Canada Pension Plan Investment Board Principal Andrew Alley has moved to Hong Kong from Sydney to help oversee the expansion of the Canadian fund manager’s investments in Asia, according to three sources familiar with the matter.
CPPIB announced its first investment in Asia outside India in September – a 55% stake purchase in the Cikopo-Palimanan toll road in Indonesia – soon after Alley made a permanent shift north after a period of frequent travel between Australia and Asia, two of the sources said.
Alley is still overseeing the Australian team with monthly trips back to Sydney but is now permanently based in Hong Kong.
CPPIB already has a large office in Hong Kong with more than 100 staffers, but the original location for its infrastructure investment team in the Asia-Pacific outside India has been Sydney.
Alley is now building an infra team as CPPIB searches for further investments in Asia, although some will, like him, be secondments from CPPIB’s other offices around the world.
CPPIB is one of several global funds with Asia-Pacific bases in Australia shifting staff north amid a lull in big brownfield deals there and following changes to tax rules that now favour local funds.
CPPIB declined to comment for this report.