Thursday, 23 March 2017
Last updated 3 hours ago
Feb 13 2014 | 11:06am ET
A top executive at private-equity firm 3i has is leaving to join the Canada Pension Plan Investment Board.
Cressida Hogg was named head of CPPIB's infrastructure investments in the U.K. She will leave 3i at the end of next month.
Hogg has been with the p.e. firm since 1995 and helped set up—and then lead—that firm's infrastructure effort. She will be replaced by Ben Loomes and Phil White.
Hogg is the second prominent woman to leave a top alternative-investments job this week—and, unlike Brevan Howard Asset Management's Geraldine Sundstrom, she does so willingly.
"I am sorry to see Cressida leave our business and would like to thank her for her contribution over the years," 3i CEO Simon Borrows said. "Her departure provides an opportunity to promote a number of very talented individuals and, in doing so, bring further energy and focus to investment origination and business development."
Her move to CPPIB also follows the public pension's plan to launch an in-house hedge fund in London, where it is expanding aggressively.