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Canada Pension Plan Investment Board promoted Caitlin Gubbels to steer its world non-public fairness group, changing Suyi Kim, who’s leaving the fund supervisor after 17 years.
Gubbels, who has labored for CPPIB since 2010, is its head of personal fairness fund partnerships. She’s a former funding banker from Canadian Imperial Bank of Commerce.
“Caitlin’s confirmed capability to construct relationships and generate returns throughout non-public fairness alternatives makes her ideally suited to tackle this expanded management function,” chief government John Graham mentioned in a press release. She will tackle the brand new function on Oct. 15.
Kim has been accountable for the pension fund’s non-public fairness division for about three years. The agency mentioned solely that she plans to “tackle new world funding management alternatives.”
CPPIB, the nation’s largest pension supervisor, earned a one per cent return within the fiscal quarter ended June 30. Assets grew to $646.8 billion.
The non-public fairness staff takes stakes in companies worldwide and, at $137 billion, its investments make up about 21 per cent of CPPIB’s complete web belongings. That’s down 12 per cent from $156 billion on the finish of its final fiscal 12 months.
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Gubbels’ new function will embody oversight of the fund’s non-public fairness staff in Asia, which has lengthy been a big focus. While the pension supervisor remains to be investing in China regardless of geopolitical tensions, it has shifted its emerging-markets technique in latest months and is prioritizing markets resembling India, Graham instructed Bloomberg in June.
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