Canada

The London-based appointment comes after the departure of two senior members from the pension giant's team, including its former head Michael Woolhouse.

Managing director Jeff Pentland says the firm wants to start thinking about succession planning now rather than in a decade.

Daniel Dupont has been co-head of secondaries at the investment firm since 2011.

The sale by Canada’s fourth-largest pension comes as it pivots to direct deals and invested a record amount in private equity in the 2019-20 financial year.

The pension made around $500m of secondaries investments in the 12 months to end-March, down almost 90% on the previous fiscal year.

The promotions at the firm include one to partner as it invests its $2bn third fund.

Secondaries Investor caught up with the insurer's global co-heads of secondaries Jeff Hammer and Paul Sanabria, and global head of private markets Stephen Blewitt, to discuss the unit's plans.

The appointment is the third former CPPIB investment professional to join the preferred equity firm this year.

Matthew Sparks, who ranked 13th in last year's Young Guns ranking, has been with the mid-market secondaries firm for more than nine years.

The portfolio is understood to be worth between $250m and $500m, according to sister publication Buyouts.