Andreas Beroutsos, executive vice president, private equity and infrastructure, at the C$248 billion ($190.5 billion) Caisse de Depot et Placement du Quebec, Montreal, will step down from the position, said spokesman Maxime Chagnon.
Mr. Beroutsos said in the release he was “hoping to take on new challenges” but also spend more time with his family in New York, according to a Caisse news release.
No date for Mr. Beroutsos’ departure was announced. He will remain at Caisse “to ensure an orderly transition,” the release said.
Mr. Chagnon said neither an interim nor permanent replacement for Mr. Beroutsos has been selected.
Mr. Beroutsos joined Caisse in May 2014. Under his supervision, last year Caisse’s 10% private equity allocation returned 8.4% vs. its 4.1% custom benchmark, while its 5% infrastructure portfolio returned 6.6% compared to its custom benchmark’s -5.1% return.
Caisse manages assets for provincial, municipal and other pension funds in Quebec as well as other provincial entities.