Blackrock recruits another senior CPPIB executive?

Canada Pension Plan Investment Board (CPPIB) announced today that Pierre Lavallée, Senior Managing Director & Global Head of Investment Partnerships, will be leaving CPPIB effective May 2, 2018.

No information is provided on which firm Lavallée is joining. (UPDATE: Lavallée will join The Canada Infrastructure Bank as President & CEO, effective June 18, 2018.)

BlackRock, Inc. (NYSE: BLK) was reported in February 2018 that it is in the fundraising mode for a US $10 billion private equity fund which will be the first attempt to make direct investments.

The new fund is to be headed by André Bourbonnais who resigned as President & CEO of PSP Investments in February 2018 “to lead a new initiative within BlackRock Alternative Investors.”

Bourbonnais re-joins with his former CPPIB boss, now Chairman of BlackRock Alternative Investors, Mark Wiseman. Bourbonnais previously worked under Wiseman most recently as Senior Managing Director & Global Head of Private Investments from 2010 to 2015 before joining PSP Investments.

Lavallée joined CPPIB in April 2012, working under Bourbonnais as Vice President and Head of Funds & Secondaries in the Private Investments department.

photo credit: Balckrock