CBRE Caledon Capital Management has hired Darrin Pickett to lead the firm’s asset management strategy for infrastructure investments.
As vice-president for asset management, Pickett will help to oversee CBRE Caledon’s infrastructure portfolio. According to Stephen Dowd, the firm’s global head of infrastructure, the portfolio comprises three-quarters of the firm’s $9.8 billion of managed institutional capital. Pickett will be reporting to Dowd and will be based in CBRE Caledon’s Toronto office.
“We looked for someone who will coordinate our strategy around managing investments for the long term, create value for them and make sure there’s consistent governance around them,” Dowd told Infrastructure Investor. “Darrin will make sure we have great coordination and communication among our portfolio companies.”
Pickett has 23 years’ experience in the infrastructure and finance industries. He spent 12 years at Ontario Teachers’ Pension Plan’s infrastructure and natural resources group, most recently as a senior principal responsible for the development and execution of the pension’s global infrastructure asset management strategy. He was also previously vice-president of power, energy and infrastructure at CIT Capital Securities.
“CBRE Caledon has taken an active approach to asset management and is well poised to continue that growth,” Pickett told Infrastructure Investor. “I was keen to come on board and help with that.”
He is not the first OTPP executive to join CBRE Caledon. Dowd, who joined the Toronto firm in 2014 to help grow its infrastructure business, had spent seven years at the Canadian pension, during which he helped to grow its infrastructure and timberland portfolio from $7 billion to $11 billion.
CBRE Caledon operates as a separate unit within CBRE Global Investors, a real asset investment platform with $106.7 billion of managed assets and an affiliate of commercial real estate firm CBRE Group.
The firm manages investments for institutions through separately managed accounts and a series of co-mingled funds, targeting assets in the energy, power, renewables, transport and digital infrastructure sectors. Last month, CBRE Caledon announced a $260 million structured equity investment in independent renewables company Pattern Energy Group.