New infra exec at Ontario pension

The Ontario Teachers’ Pension Plan has named former investment banker Ken Manget vice president of infrastructure.

The Ontario Teachers’ Pension Plan (OTPP) has appointed Ken Manget to the newly created position of vice president, infrastructure, the C$140.8 billion (€97.4 billion; $131.1 billion) pension fund said in a statement on Tuesday.

According to an OTPP spokesperson, the role is part of the pension plan’s “ongoing commitment to this important asset class”.

Manget joins OTPP from Desjardins Capital Markets, a Canadian financial services firm, where he served as managing director and head of investment banking, according to the statement.

Before Desjardins, Manget was managing director of equity capital markets and head of income funds for BMO Capital Markets, another financial services provider based in Canada.

Manget will report to Andrew Claerhout, senior vice president of infrastructure.

OTPP began building its infrastructure portfolio in 2001, which by the end of 2013 was valued at C$11.7 billion, according to its website.

Within the infrastructure sector, OTPP invests in: power generation; electricity; gas and water distribution; pipelines; as well as toll roads, bridges, ports and airports.

In addition to investing the pension fund’s assets, it also administers the pensions of 307,000 active and retired Ontario teachers.