Canada Pension Plan Investment Board (CPP Investments) is setting up a new investment group that combines the organisation s expertise in renewables, conventional energy and new technology and service solutions.
Sustainable Energy Group (SEG) will generate “compelling investment opportunities” for the fund, positioning CPP Investments as the leading global energy investor.
SEG will have approximately C$18bn in assets, making it “highly competitive and flexible” in the large and dynamic global energy sector.
According to the Bloomberg New Energy Outlook 2020 report, around $15.1tn is expected to be invested in new power capacity alone by 2050.
CPP Investments said SEG is well positioned to pursue a variety of opportunities in this, and the broader sustainable energy market, having combined expertise in conventional energy, renewable energy, carbon capture as well as emerging and disruptive opportunities through its innovation and technology and services team.
IE Staff
The Canada Pension Plan Investment Board is looking to take advantage of growing investment opportunities in low-carbon energy alternatives.
CPP Investments announced the launch of its sustainable energy group (SEG) on Tuesday. The group will draw on CPP’s expertise in renewables, conventional energy and new technology to manage approximately $18 billion in assets, according to a release.
Bruce Hogg will serve as managing director and head of the SEG. Hogg, who joined CPP Investments 14 years ago, was most recently managing director and head of power and renewables.
“The creation of the Sustainable Energy Group with significant, flexible capital positions us extremely well to pursue the best market opportunities across the entire energy spectrum,” Hogg said in a statement.
CPPIB appoints new head of sustainable energy group
CPPIB appoints new head of sustainable energy group
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Bruce Hogg, a managing director at the Canada Pension Plan Investment Board, Toronto, was named head of the C$475.7 billion ($378.2 billion) pension fund s new sustainable energy group.
The position is new. The recently created group combines the board s energy and resources and power and renewables groups into a single team overseeing about C$18 billion in assets, a news release Tuesday said.
Mr. Hogg was previously head of power and renewables.
Avik Dey, a managing director who was head of energy and resources, will remain with CPP Investment Board for the next six months after which he plans to leave the board to return to his entrepreneurial roots, the news release said.
Staff
The Canada Pension Plan Investment Board is looking to take advantage of growing investment opportunities in low-carbon energy alternatives.
CPP Investments announced the launch of its sustainable energy group (SEG) on Tuesday. The group will draw on CPP’s expertise in renewables, conventional energy and new technology to manage approximately $18 billion in assets, according to a release.
Bruce Hogg will serve as managing director and head of the SEG. Hogg, who joined CPP Investments 14 years ago, was most recently managing director and head of power and renewables.
“The creation of the Sustainable Energy Group with significant, flexible capital positions us extremely well to pursue the best market opportunities across the entire energy spectrum,” Hogg said in a statement.
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