February 12, 2014 / 4:25 PM / 4 years ago

UPDATE 1-3I's Cressida Hogg to join Canada's CPPIB

LONDON, Feb 12 (Reuters) - 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 Wednesday.

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 committee.

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.

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