CPPIB investment chief steps down

Don Raymond, senior vice president and chief investment strategist at the Canada Pension Plan Investment Board, will resign from his position effective 31 March. 

Raymond will move into “a leadership role” at Toronto-based alternative investment firm Alignvest Management Corporation, according to a statement. He joined CPPIB in 2001 and worked as senior vice president of public market investments before being named chief investment strategist in 2010. In this position, Raymond has been responsible for overseeing investment management of the total portfolio across all investment departments. 

CPPIB has begun a search for Raymond’s successor “with a view to ensuring a seamless transition in advance of [his] departure date”, the statement said. 

Last month, CPPIB hired Mark Corbidge as a senior principal in its direct private equity department. Corbidge was previously the co-head of private equity at Doughty Hanson, which he left in September 2012 after roughly eight years. 

CPPIB recorded a 16.8 percent return on its private equity investments in foreign developed markets for the fiscal year ending March 2013. The C$192.8 billion (€132.5 billion; $181.1 billion)pension plan was the most active fund investor in private equity during the 12-month period ending 31 March 2013, committing $3.99 billion to funds, according to Private Equity International’s Research and Analytics division.