Ontario Teachers’ rewards investment team

The $108.5bn Canadian pension has elevated seven executives, three of whom lead private equity deals for Teachers’ Private Capital.

The Ontario Teachers’ Pension Plan has promoted seven investment professionals following a year in which the team helped add $2.3 billion (€1.4 billion) in value above the fund’s benchmark.

Stephen Dowd, who leads Teachers’ infrastructure and timber portfolio, has been promoted to senior vice president of infrastructure, while Ron Mock, head of Teachers’ hedge fund portfolio, is now senior vice president of alternative investments.

Three of the other promotions occurred within Teachers’ Private Capital (TPC), the pension’s extremely active internal private equity firm.

Glen Silvestri, who leads TPC’s telecom, media and technology deals, is now a vice president. The same position was awarded to Shael Dolman and Andrew Claerhout. Dolman oversees TPC’s business services and diversified industrial services deals, while Claerhout, who heads TPC’s London office, oversees private equity investments in Europe, the Middle East and Africa.

Jason Chang was also promoted to vice president of fixed income capital management and Kevin Kerr to vice president of infrastructure.

“These appointments reflect Teachers’ tradition of cultivating its talent internally and promoting from within,” Neil Petroff, the investment group’s senior vice president, said in a statement. “As a long-term investor, we are focused on fostering the strength of the fund into the future. The breadth of experience they each bring to their roles will enable us to continue to build on Teachers’ innovative approach to investment management.”

Petroff added that more than $5 billion over Teachers’ benchmark was added in the last two years, while some $2.3 billion in value above its benchmark was added last year.

Teachers’ Private Capital was voted Canada's private equity firm of the year by readers polled in the Private Equity International Awards 2007.