PSP adds private debt MD in London

The Canadian pension’s private debt unit has added HSBC veteran Oliver Duff to spearhead its expansion into the European market.

The Canada’s Public Sector Pension Investment Board (PSP Investments) has hired Oliver Duff as managing director, principal debt and credit investments. Duff will start in September and be based in PSP’s London office .

“We are pleased to have Oliver as part of our London team to develop our presence in the European leveraged finance market, build PSP Investments’ relationships with local partners and contribute to achieving our objective of deploying approximately CA$5.6 billion ($4.2 billion) in private debt financing over the next three years,” said PSP senior vice president and head of principal debt and credit investments David Scudellari in a statement.

Duff’s addition is part of the firm’s efforts to make its London office a hub for all of PSP’s activities in Europe, according to the statement. He joins PSP after serving as European head of capital financing and global head of leveraged finance at HSBC. Before joining HSBC in 2006, Duff held positions at Morgan Stanley, Goldman Sachs and Bankers Trust.

PSP manages contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It has CA$112 billion ($86 billion) in assets under management, including investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. The firm is headquartered in Ottawa and maintains offices in Montreal, New York and London.

As recently reported, Patrick Charbonneau, PSP’s managing director for infrastructure, will relocate to London in the coming months to spearhead the creation of an infrastructure team.