Aug 15, 2024 - Business

Canada's largest pension fund names new private equity boss

Dan Primack

an illustration of a maple leaf surrounded by shapes and cutouts of canadian dollar notes — Illustration: Tiffany Herring/Axios

Canada Pension Plan Investment Board is promoting Caitlin Gubbels to head of global private equity. She succeeds Suyi Kim, who's been in the role since 2021 and with CPPIB for 17 years.

Why it matters: CPP is one of the world's largest investors in private equity, including both company and fund stakes, with around US$100 billion in assets.

Background: Gubbels has been with CPP since 2010, most recently serving as head of private equity fund partnerships. She previously was a banker.

Go deeper, per PE International: "Gubbels' pedigree in funds, rather than directs, could tell us something about the institution's priorities ... potentially shifting the 'balance of power back to funds' after a strong focus on directs in recent years."

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Canada's largest pension fund names new private equity boss

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