Pension Funds

PSP Investments adds private debt managing director

Francis Blair was named managing director, distressed credit investment and rescue finance, private debt, at PSP Investments, which manages the assets of the C$153 billion ($117.1 billion) Public Sector Pension Investment Board, Ottawa.

The position is new, said a PSP spokeswoman.

Mr. Blair will be based in New York and will help PSP Investments expand its current debt financing capability to include special situations, the spokeswoman said. PSP managed C$8.9 billion in private debt as of March 31,

Mr. Blair was managing director at Solus Alternative Asset Management. A spokesman at Solus said other analysts at the firm have assumed Mr. Blair's responsibilities.