Canada Pension Plan Readies 'In-House' Hedge Fund

Feb 11 2014 | 10:06am ET

Canada's national retirement system plans to launch an in-house hedge fund, led by an Invesco and Partner Fund Management veteran.

The new division, which will be based in the Canada Pension Plan Investment Board's London office, will have four to five managers running a long/short strategy in Europe, the Middle East and Africa, Financial News reports. It will be led by Dureka Carrasquillo, who has joined the CPPIB from family office Tranberg Capital Management.

"There is a team in Toronto that does this," Alain Carrier, CPPIB's head of Europe, told FN. "We think European equities remain very attractive. It is in the context of us building out our London office; the one set of our business that has not been present is the public side."

CPPIB, which manages C$193 billion (US$175 billion), currently has about 60 staffers in London, a number Carrier expects to "grow substantially." The pension is also growing elsewhere, having opened offices in New York and Brazil last month.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...