Pension Pulse

James Bradshaw of the Globe and Mail reports  CAAT puts CEO on leave, names new chair and vice-chair amid governance crisis: The CAAT Pension Plan has placed chief executive officer Derek Dobson on administrative leave, installed an acting CEO and appointed a new chair and vice-chair to its board of trustees as a governance crisis at the $23-billion pension plan has spurred an overhaul of its leadership. Mr. Dobson is being sidelined, effective immediately, after some of the plan’s top executives raised concerns about his conduct as well as oversight by CAAT’s board of trustees, setting off multiple investigations into possible governance failures. Kevin Fahey, who was promoted to chief investment officer in late January, has been appointed as CAAT’s acting CEO and plan manager, CAAT said in a statement on Friday. The pension plan also named trustee Audrey Wubbenhorst as its new board chair, and Janet Greenwood as vice-chair. Previous board chair Don Smith was removed ...

The Canadian Press reports  CPP Investments buying 50 per cent stake in Peruvian power company Inkia Energy:  The Canada Pension Plan Investment Board has signed a deal to invest in Peruvian private power generation company Inkia Energy alongside I Squared Capital. Under the agreement, CPP Investments has agreed to acquire a 50 per cent stake in Inkia at a total enterprise value of US$3.4 billion. I Squared, which has been invested in Inkia since 2017, will hold the other 50 per cent. Inkia operates a diversified portfolio through its subsidiaries Kallpa Generación S.A. and Orazul Energy Peru S.A. Bill Rogers, managing director and head of sustainable energies at CPP Investments, says Inkia operates a resilient power generation platform that aligns well with the fund's long-term approach to investing in high-quality businesses. The deal is subject to closing conditions and government approvals. Earlier today CPP Investments issued a press release stating it will inve...

Eduard van Gelderen, former CIO of PSP who served as the head of research at FCLTGlobal in 2025 wrote an article for Chief Investment Officer on whether the technology payoff is well understood: During my career in finance, I’ve attended many conferences, summits, roundtables and other events. Most of the time, topical developments were discussed, helping investors make sense of the world around us. In essence, these developments have remained the same over the years; it is the actual manifestation that attracted attention. We’ve always had wars, economic setbacks and innovation, and we certainly have had market bubbles. Experience is a powerful resource that can help us deal effectively with these forces. But one development stands out to me: technological innovation. Investors have had a love-and-hate relationship with technology for as long as I can remember. Interests hardly ever seemed to be aligned: Either quant investors asking for more technology were not fully ...

Kieran Smith and Mary McDougall of the Financial Times report top bosses depart Canadian pension fund after Thames Water fiasco: One of Canada’s biggest pension funds has parted ways with two top infrastructure executives after writing off its stake in Thames Water and the souring of another high-profile European investment. Alastair Hall, senior managing director for Europe, and Chris Hogg, a director who led the firm’s digital infrastructure investments, have left Ontario Municipal Employees Retirement System in recent weeks, according to three people familiar with the matter. The exits follow struggles at two of Omers’ top investments. Hall, who joined in 2014, was involved in the fund’s investment in Thames Water. The fund was the utility’s largest shareholder and wrote off its entire 31 per cent stake in 2024. Hogg, who joined in 2023, was one of the lead executives on Deutsche Glasfaser, a heavily indebted German broadband provider now scrambling to secure its financi...

Quratulain Tejani of EQD Intelligence reports inside HOOPP’s total portfolio thinking; Jacky Lee talks approach, widespread adoption: Total portfolio approach, once an academic framework, is becoming the go-to operating system for large asset owners grappling with a more fragmented, inflation- prone world. MAIN TAKEAWAYS TPA has existed for decades, but adoption is accelerating as allocators reassess whether stable correlations, mean reverting growth and long run risk premia still hold HOOPP’s portfolio won’t drastically change if the long term outlook hasn’t changed, but when it does, the total portfolio framework ensures they are prepared Boards define risk guardrails while investment teams position the portfolio Total portfolio approach, once an academic framework, is becoming the go-to operating system for large asset owners grappling with a more fragmented, inflation-prone world. Jacky S. Lee, senior managing director and head of total portfolio managem...