LONDON Feb 12 Canada Pension Plan Investment
Board, one of the world's biggest pension fund investors, has
poached the managing partner of UK private equity firm 3i's
infrastructure business, sources familiar with the
matter told Reuters.
Cressida Hogg will take a senior role in CPPIB's
infrastructure programme and will be based in London, the
sources said on Wednesday.
Her recruitment comes after CPPIB Chief Executive Mark
Wiseman said the firm expects more infrastructure and private
equity investment opportunities in 2014.
Hogg spent almost two decades at 3i and founded its
infrastructure business in 2005. She will leave the firm at the
end of March, the company said in a statement earlier on
Phil White, currently a partner in infrastructure at 3i, and
Ben Loomes, group strategy director, will become co-managing
partners of the infrastructure business.
The unit's investment origination and fundraising will be
handed over to Neil King, who will move to senior partner.
White and King will also join Loomes on 3i's executive
JPMorgan analyst Christopher Brown said the three were "very
capable individuals with complementary skills" and while Hogg's
departure may trigger a modest negative sentiment effect in the
very short term, he saw no reason to change his "overweight"
rating on the stock.