Canada Pension Plan Investment Board is restructuring its public markets division, marking major changes to its largest investment group and signalling chief executive Mark Machin’s intention to refocus the country’s biggest pension fund.
On Monday, CPPIB unveiled a revamp of its public markets group, known internally as PMI, or public market investments, according to people familiar with the changes. The division managed $115.4-billion as of March 31, the fund’s fiscal year end, more than the teams responsible for private market investments, investment partnerships and alternative assets such as real estate or infrastructure. The restructuring involves merging different strategies and laying off some staff.Report Typo/Error
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