CDPQ Taps Avenue's Mayans For Private Debt Post

Sep 22 2017 | 7:57pm ET

Canadian public pension manager Caisse de Depot et Placement du Quebec (CDPQ) has named former Avenue Capital Group executive Luis Mayans as head of private debt.

The position is new, according to Pensions & Investments, and is based out of the firm’s London office. The move is reportedly part of a broader restructuring of CDPQ’s $68 billion fixed-income portfolio and illustrative of the move among institutional investors to increase their exposure to private credit and direct lending. 

Prior to joining CDPQ, Mayans was managing director at Avenue Capital Group, where he focused on the company’s direct lending strategy. Beforehand, he was with GE Capital in the firm’s sponsor coverage and leveraged finance divisions. 

CDPQ is headquartered in Montreal and is the second-largest pension fund in Canada, with $286.5 billion in net assets as of June 30, 2017. The company invests globally in major financial markets, private equity, infrastructure, real estate and private debt on behalf of 41 public and parapublic organizations, mainly pension and insurance plans.

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