Pierre Lavallee was named senior managing director and global head of investment partnerships at the C$234.4 billion (US$189.1 billion) Canada Pension Plan Investment Board, Toronto.
The position is new, said Linda Sims, CPPIB spokeswoman. Mr. Lavallee will lead a new investment department focusing on CPPIB's external managers in private and public markets, secondary investments and co-investments.
The new department will be the board's fourth; existing investment units are public markets, private markets and real estate, Ms. Sims said. Mr. Lavallee's department will oversee an estimated C$53 billion in assets, based on information in CPPIB's 2014 annual report as of March 31 — C$29.8 billion from private markets and C$23.2 billion from public markets,
“The new department reflects the rate of growth we've had with our (external) partnerships,” Ms. Sims said.
Mr. Lavallee was senior managing director and chief talent officer; he will retain those duties until a replacement is appointed.