Mark Jenkins, who until now was managing director and head of principal investments at the Canadian Pension Plan Investment Board (CPPIB), has been chosen to succeed senior managing director and global head of private investments André Bourbonnais, the organisation said in a recent statement.
While Bourbonnais will step down to assume the role of chief executive officer at the Public Sector Pension Investment Board in Montréal on March 30, Jenkins’ appointment is effective immediately.
Jenkins joined CPPIB, administrator to the Canada Pension Plan, in 2008 and most recently oversaw CPPIB’s direct private equity, principal credit investments and natural resources investment programmes. In his new role, he will be responsible for leading those programmes as well as infrastructure and portfolio value creation functions.
CPPIB also promoted Pierre Lavallée to the newly-created role of senior managing director and global head of investment partnerships, leading the new department to focus on broadening relationships with CPPIB’s external managers in private and public market funds, on secondaries and co-investments, as well as expanding direct private equity investments in Asia and further building thematic investing capabilities.
Lavallée joined CPPIB in 2012 as vice president and head of funds and secondaries. Most recently, he served as senior managing director and chief talent officer, a position he will continue to hold until a successor is found, according to the statement.
“I look forward to working closely with Mark, Pierre and the rest of the CPPIB team through a seamless transition, while continuing to implement our multi-year global business plan to achieve maximum risk-adjusted returns over the long term,” CPPIB president and chief executive Mark Wiseman said.
He also congratulated Bourbonnais on his new role “leading one of Canada’s largest investment fund managers.”
“I also want to thank André for his tremendous contributions during his nine years at CPPIB, where he has been a respected colleague and was instrumental in building our Private Investments department into a sophisticated global investment team with over 200 professionals managing a C$65 billion (€45.8 billion; $52.0 billion) portfolio,” Wiseman added.
Based in Toronto, CPPIB is an investment management organisation that invests the funds not needed by the Canadian Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. It invests in public and private equities, real estate, infrastructure and fixed income.
As of September 30, 2014, CPPIB's infrastructure portfolio stood at C$12.6 billion, representing 5.4 percent of CPPIB's C$234.4 billion total assets under management.