Deals

Uzumeri to head Teachers' PE arm

Teachers' has named Erol Uzumeri, who currently manages international private equity investments at the Canadian pension, to succeed Jim Leech as head of its private equity arm.

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Erol Uzumeri, head of international private equity investments for Teachers’ Private Capital, will take over the Canadian pension's private equity division on 1 October. Uzumeri will replace Jim Leech, who will become the Ontario Teachers' Pension Plan's chief executive when 17-year veteran Claude Lamoureux retires in December. 

“There’s not going to be any sea change,” Uzumeri told PEO. “We’re going to be doing a lot of the same things, but perhaps in a slightly more focussed manner.”

Erol Uzumeri

Uzumeri joined the C$106 billion ($106 billion, €75 billion) public pension fund in 2003. While at Teachers’ he has helped to establish several funds, including European mezzanine debt fund Park Square Capital and Asian buyout fund MBK Partners. Earlier this year he also worked to set up a €250 million Turkey-focussed fund jointly managed with Actera Partners. Before joining Teachers', Uzumeri was a partner at CVC International, Citigroup’s London-based private equity business.

Uzumeri told PEO he believes his international experience will be an asset for Teachers', which invests heavily abroad, but does not anticipate making any major strategic changes in the portfolio’s operations.

Teachers’ Private Capital currently manages C$16 billion and invests in private equity, venture capital and infrastructure.

Uzumeri will oversee the group's private equity and venture capital activities, while Stephen Dowd, a vice president in charge of international investments, will look after its infrastructure investments.