North America: CPPIB replaces Hogg with Lawrence as infra head

17 April 2018 - 12:00 am UTC

Canadian institutional investor Canada Pension Plan Investment Board (CPPIB) has appointed Scott Lawrence as head of infrastructure to replace the departing Cressida Hogg Inframation has learnt. 

Hogg reportedly announced her decision to leave the CAD 326.95bn pension plan in an internal memo and will be moving to a role outside the pension world. 

Since November 2016, Lawrence has been managing director, head of fundamental equities for the plan and before that was head of relationship investments for the pension from 2009 – 2016.

Lawrence will be responsible for overseeing CPPIB’s CAD 27.49bn global infrastructure program.

The move will see the head of infrastructure role shift from London to Toronto according to a source familiar. This would be a reversal of the policy of ex-head of global private investments André Bourbonnais who left the pension in 2015 to join PSP Investments and who was in February 2018 hired by BlackRock Alternative Investors in New York.   

In recent months, Canada’s three largest pension funds have changed their top infrastructure managers. 

In March, Caisse de dépôt et placement du Québec (CDPQ) said that Macky Tall would move from infrastructure to become head of liquid markets and Montreal’s planned Réseau Express Métropolitain transport system. He is replaced by Emmanuel Jaclot. 

Ontario Teachers’ Pension Plan (OTPP) in February made Latin American infrastructure leader Dale Burgess interim head of infrastructure and natural resources after previous head Andrew Claerhout departed the pension.  

CPPIB declined comment on the situation.