Investors

CPP Investments infra chief Scott Lawrence exits – exclusive

Lawrence has been replaced internally by James Bryce, who previously led the portfolio value creation group at the Canadian pension.

-

Scott Lawrence has departed his role as managing director and head of infrastructure at CPP Investments, Infrastructure Investor has learnt.

The C$536 billion ($399.2 billion; €362.4 billion) Canadian pension has moved to replace Lawrence internally, appointing James Bryce as the new infrastructure head. Bryce was previously head of its portfolio value creation group.

CPP Investments declined to comment on either Lawrence’s departure or the new appointment.

It is unknown if Lawrence has another position lined up and could not be reached for comment at the time of publication. He is believed to have left the role at the end of April. He had held the head of infrastructure post since June 2018, when he was appointed to replace the outgoing Cressida Hogg.

Lawrence’s departure brings an end to a 17-year tenure at CPP Investments overall. He initially joined in September 2005 to co-found the investment group that began making direct investments in global infrastructure companies. He held other roles at the organisation as well, such as head of relationship investments and head of fundamental equities.

Bryce takes the reins after having been at CPP Investments since 2012. His position as head of portfolio value creation has included roles on the boards of UK-based companies Anglian Water and Associated British Ports. He is also on the board of Canadian agriculture group Viterra.

CPP Investments has C$48.3 billion in assets under management in its infrastructure division, through a 9 percent allocation, its fiscal year 2022 annual report released last May noted. It’s the largest amount of infrastructure under management by any worldwide investor, according to Infrastructure Investor’s GI 50 ranking. The portfolio delivered a 10.8 percent net return in fiscal 2022, compared to 12.6 percent the previous year.

CPP Investments’ loss of its infrastructure chief follows compatriot and fellow direct investor Ontario Municipal Employees’ Retirement System also seeing its head of infrastructure, Annesley Wallace, leave near the end of April. OMERS is yet to announce a formal replacement for Wallace.