Canada Pension Plan Investment Board (CPP Investments), has appointed Caitlin Gubbels to lead its global private equity business effective October 15, following the departure of Suyi Kim, according to a company announcement on Wednesday.
Kim, who has been with the pension fund for 17 years, will be leaving to take on “new global investment leadership opportunities”, the statement said.
Kim was responsible for opening the firm’s Hong Kong office in 2008, where she joined as the head of the firm’s private equity strategy in Asia. She was then promoted to lead its entire Asia Pacific business, before becoming head of global private equity in 2021.
Gubbels joined CPP Investments in 2010 and was most recently managing director, and head of funds. Upon joining the senior management team, she will head the global programme which includes the teams focused on investments in direct private equity, private equity Asia, and private equity funds and secondaries.
Gubbels currently leads the fund business, where she oversees business with general partners (GPs), including industry giants such as Blackstone, Carlyle, KKR, EQT, TPG, and more.
Recently, CPP Investments disclosed that it committed $100 million to Kedaara Capital’s fourth fund which raised over $1.7 billion in capital, making it India’s largest-ever private equity fund. The Canadian pension plan also committed $175 million to South Korean buyout firm MBK Partners’s latest fund, MBK Partners Fund VI, which was said to be seeking $7 billion.
CPP Investments ended the first quarter of its 2025 fiscal year (April-June 2024) with net assets of C$646.8 billion ($471 billion), up from $632.3 billion ($461 billion) of net assets at the end of its 2024 fiscal year. For the quarter, the fund’s net return was 1%.
