Canadian private equity funds are busy hiring in London this year. As we reported yesterday, PSP Investments, the private debt fund of Canada’s Public Sector Pension Investment Board, has been busy hoovering up juniors from investment banks. It's not alone: a fellow Canadian fund is also hiring, but so far it's been stocking up at the senior end.
That fund is Caisse de dépôt et placement du Québec (CDPQ), a Québécois pension fund which has an office close to London's Trafalgar Square. It's hired at least four senior investment directors since January and is understood to be building still.
So far - and unlike PSP Investments -CDPQ has shown little inclination for hiring juniors from investment banks. The emphasis instead has been on bringing in senior private equity (PE) professionals from rival firms.
The most recent of these was Dr. Signe Michel, a former Permira healthcare investment professional, who started her career in the Boston Consulting Group. Michel joined in June. Other hires in 2017 include Alain Cianchini from Sun Capital Partners (previously an analyst at Citi), Pierre Heinrichs from Helios Investment Partners, and Albrecht von Alvensleben from Wendel, a family investment firm.
Of course, this may change. CDPQ registered in London and all of its staff have been hired this year or last. The most junior is a senior associate who was hired from Uber last year.
Pretty soon CDPQ may decide it needs some analysts too. Given the notoriously long recruitment process at private equity funds, it may be an idea to get your CV in early.