CPE News (12.5.2023) – Ontario Teachers’ Pension Plan has announced the appointment of Pierre Cherki as Executive Managing Director, Real Estate, effective January 22.
This is a new investment leadership position at Ontario Teachers’, which will oversee its in-house real estate asset group to be established as of January 1, 2024. Cherki will be based in Toronto. Cherki will report to Ziad Hindo, Chief Investment Officer, and will join Ontario Teachers’ Investment Executive Team.
In June 2023, Ontario Teachers announced “Evolution to Real Estate Operating Model to Drive Growth” re-defining the functions of Ontario Teachers and Cadillac Fairview (CF).
Effective January 1, 2024, Ontario Techers’ will be establishing an in-house real estate asset class group to oversee real estate investment activities. “This aligns its real estate investment approach to that of other asset groups within Ontario Teachers’, where investment capabilities are embedded to enable information sharing, co-sourcing, and best practices across its global platform.”
Cadillac Fairview’s international team of 37 real estate investment professionals will join Ontario Teachers.
Ontario Teachers’ will focus on global real estate investing and portfolio management, while CF will focus on growth, diversification, and densification of its unmatched real estate portfolio in Canada, building on its strong reputation and history as a leader in this space. CF will also continue to provide excellence in a variety of real estate services to Ontario Teachers’ global real estate platform.
Cherki will oversee Ontario Teachers’ global real estate investing and portfolio management activities and a team of almost 40 investment professionals located in Toronto, London, Singapore, Dallas, and São Paulo.
Ontario Teachers’ real estate portfolio, inclusive of assets under Cadillac Fairview, is valued at $29.3 billion as at June 30, 2023
Cherki brings more than 25 years of real estate experience to his new role, having spent most of his career at DWS Group, one of the world’s largest managers of alternative investments with a sizable global real estate portfolio. He was a member of the DWS Executive Board and served in numerous senior management positions including Global Head of Alternatives, Global Head of Real Estate, and Head of Real Estate, Europe and Asia Pacific.
Since 2022, Cherki has been a member of the Cadillac Fairview board of directors, giving him deep knowledge of the organization and international portfolio.
photo credit: Cadillac Fairview
News Release
Ontario Teachers’ appoints Pierre Cherki as Executive Managing Director, Real Estate
TORONTO, Dec. 5, 2023 /CNW/ – Ontario Teachers’ Pension Plan (Ontario Teachers’) is pleased to announce the appointment of Pierre Cherki as Executive Managing Director, Real Estate, effective January 22. This is a new investment leadership position at Ontario Teachers’, which will oversee its in-house real estate asset group to be established as of January 1, 2024. Mr. Cherki will be based in Toronto.
In June 2023, Ontario Teachers’ announced an evolution to its real estate investment model that will bring Cadillac Fairview’s international investment professionals in-house, aligned with Ontario Teachers’ other investment asset groups. Cadillac Fairview will remain a core part of Ontario Teachers’ global real estate portfolio, with a focus on growth, diversification, and densification of its unmatched real estate assets in Canada, building on its strong reputation and history as a leader in this space.
As Executive Managing Director, Real Estate, Mr. Cherki will oversee Ontario Teachers’ global real estate investing and portfolio management activities and a team of almost 40 investment professionals located in Toronto, London, Singapore, Dallas, and São Paulo. Ontario Teachers’ real estate portfolio, inclusive of assets under Cadillac Fairview, is valued at $29.3 billion as at June 30, 2023.
“I’m pleased to welcome Pierre to Ontario Teachers’ into this role,” said Jo Taylor, President and CEO, Ontario Teachers’. “For many years real estate has been an important component of our asset mix. Under Pierre’s leadership we plan to explore ways of effectively diversifying our portfolio by sector and stage internationally.”
“I’m delighted to be joining Ontario Teachers’ and look forward to leading a strong team of global professionals in supporting further growth in the real estate portfolio,” said Mr. Cherki. “Real estate has been a central part of the portfolio mix at Ontario Teachers’ for more than two decades and I am excited to build on that strong foundation to deliver value to Plan members.”
Mr. Cherki brings more than 25 years of real estate experience to his new role, having spent most of his career at DWS Group, one of the world’s largest managers of alternative investments with a sizable global real estate portfolio. He was a member of the DWS Executive Board and served in numerous senior management positions including Global Head of Alternatives, Global Head of Real Estate, and Head of Real Estate, Europe and Asia Pacific. Since 2022, he has been a member of the Cadillac Fairview board of directors, giving him deep knowledge of the organization and international portfolio.
He holds a bachelor’s degree in Management and Economics from Tel-Aviv University and an MBA from Northwestern University.
About Ontario Teachers’
Ontario Teachers’ Pension Plan (Ontario Teachers’) is a global investor with net assets of $249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.
With offices in Toronto, London, Hong Kong, Singapore, Mumbai and San Francisco, our more than 400 investment professionals bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.
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Dan Madge
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SOURCE Ontario Teachers’ Pension Plan