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Pension Funds

PSP Investments taps global real estate head as Canadian pension fund’s new CEO

Former PSP Investments president and CEO Andre Bourbonnais is to join BlackRock later this year.

Neil Cunningham was named president and CEO of the Ottawa-based Public Sector Pension Investment Board, effective immediately, according to an announcement by the C$139.2 billion ($111.9 billion) pension fund.

Mr. Cunningham replaces Andre Bourbonnais. A PSP Investments news release said Mr. Bourbonnais will be joining BlackRock (BLK) later this year to lead a new initiative within the money manager's alternative investors business.

Rowena Kwok, a Hong Kong-based spokeswoman for BlackRock, confirmed that Mr. Bourbonnais will be joining the firm but declined to provide further details until "his official start date approaches."

Mr. Cunningham previously served as senior vice president, global head of real estate and natural resources at PSP Investments. A PSP Investments spokeswoman said information regarding changes to the fund's real estate and natural resources team will be available shortly.