Three Executives to Exit CPPIB
The Canada Pension Plan Investment Board (CPPIB) announced a few executive departures. Graeme McAllister Eadie, Global Head of Real Assets at CPPIB, is retiring effective March 31, 2018. Eadie announced he was stepping back from the rule back in July 2007. Eadie plans to stay on as an advisor. Next, Eric M. Wetlaufer, Senior Managing Director & Global Head of Public Market Investments at CPPIB, is retiring effective May 31, 2018 after almost seven years with the organization. Wetlaufer was a former executive at Fidelity Investments before CPPIB.
Last, Nick Zelenczuk, Senior Managing Director & Chief Operations Officer at CPPIB, will retire from CPPIB effective May 31, 2018. Zelenczuk spent 9 years at CPPIB.
“Planned renewal of senior management is both necessary and healthy for all organizations, and CPPIB is well-positioned to ensure an orderly transition for these important senior leadership roles,” said CPPIB President Mark Machin in a press release.
He added, “Through this renewal, we are able to benefit from appointing some new leaders who will inject fresh perspectives, experiences and ideas to the organization just as we look ahead to an exciting future.”
Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.
Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.
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