Canada

Wallace is replacing Blake Hutcheson, as he transitions to chief executive of the C$97bn Canadian pension fund, according to an internal memo.

The change in ownership comes as the PPP consortium reached contractual close with the NSW state government on an extension of the project.

The Montreal-based firm has made its first investment through the fund, backing a Greek solar farm with a long-term off-take agreement.

Andrew Claerhout is joining the NY-based private equity firm, which has exposure to telecoms and digital infrastructure, as it looks to launch a broader infra strategy.

Pickett will report to Stephen Dowd, the firm’s global head of infrastructure, who also worked at Ontario Teachers’ Pension Plan.

Northleaf ranked 21st in the latest SI 30, having raised $2.38bn between January 2014 and June 2019. Sister publication Secondaries Investor caught up with managing director Michael Flood to discuss the firm’s recent $1bn raise and competition in the mid-market.

A significant portion of the capital is part of an expanded secondaries-focused mandate with Canadian pension fund CDPQ.

One of the world’s most prominent direct investors is trying to prove it can do much more than back projects with capital by developing a C$6.3bn greenfield project in Montreal.

The Canadian pension’s head of infrastructure says there ‘is a great fit between growth supporting infrastructure and infrastructure supporting growth’ in the country.

SNC-Lavalin and Skanska have decided to stop bidding for such projects. If other developers follow their example, the entire procurement model might be at risk.