Private Equity Deals & Transactions

Ontario Teachers hires Duke Street exec

The Canadian pension plan’s direct investing arm has added Ian Kennedy as a director in London.

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Teachers Private Capital, the direct investment arm of the Ontario Teachers’ Pension Plan, has hired Iain Kennedy as a director.

A former partner at UK mid-market firm Duke Street, Kennedy is based in TPC’s London office. He will focus on making direct long-term private equity investments, according to a statement. During Kennedy’s 16 years at Duke Street, 11 of which he held the position of partner, he focused on UK companies in the business services and financial services sectors and led investments in companies including Xafinity, Marlin, Payzone, Parabis and Baywater.

“The [TPC] team will also continue to focus on supporting our private equity fund partners with knowledgeable and experienced resources which can be fully responsive to co-investment opportunities,” Jo Taylor, head of Teachers’ London office, said in the statement.

Prior to Duke Street, Kennedy worked for Gresham Private Equity and PriceWaterhouse Coopers London.

TPC’s private equity investment portfolio is currently valued at approximately C$12 billion (€8 billion, $12 billion) in invested and committed capital, according to the statement.

TPC makes direct investments and co-investments alongside other private equity funds. It also invests in funds to gain access to new regions or sectors. Last October, TPC acquired Busy Bees Nursery Group, one of the largest childcare providers in the UK, for a reported £220 million.