Senior Principal, Secondaries
- 1 Queen Street East, Toronto, ON, CA OR 510 Madison Avenue, New York, NY, US AND 40 Portman Square, London, United Kingdom
- Function: Finance
Make an impact at a global and dynamic investment organization
When you invest your career in CPP Investments, you join one of the most respected and fastest growing institutional investors in the world. With current assets under management valued in excess of $450 billion, CPP Investments is a professional investment management organization that globally invests the funds of the Canada Pension Plan (CPP) to help ensure long-term sustainability. The CPP Fund is projected to exceed $1.5 trillion in the next two decades. CPP Investments invests in all major asset classes, including public equity, private equity, real estate, infrastructure and fixed-income instruments, and is headquartered in Toronto with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney.
CPP Investments attracts and selects high-calibre individuals from top-tier institutions around the globe. Join our team and look forward to:
- Diverse and inspiring colleagues and approachable leaders
- Stimulating work in a fast-paced, intellectually challenging environment
- Accelerated exposure and responsibility
- Global career development opportunities
- Being motivated every day by CPP Investments’ important social purpose and unshakable principles
- A deeply rooted culture of Integrity, Partnership and High Performance
If you share a passion for performance, value a collegial and collaborative culture, and approach everything with the highest integrity, here’s an opportunity for you to invest your career at CPP Investments.
We are hiring two Senior Principals in North America and Europe respectively. In North America the hire can be in Toronto or New York; in Europe the hire will be located in London.
The Secondaries Group forms part of CPP Investments’ Private Equity department and is responsible for investing in a wide range of private equity secondary market transactions globally. The priority objective of the Secondaries Group is to generate consistent outperformance, relative to relevant public and private benchmarks, via exceptional market access, investment judgment and execution expertise.
Reporting to the Managing Director, Head of Secondaries, the Senior Principals will lead global deal teams originating, executing and managing the full range of secondaries investments across buyout, growth and (selectively) venture assets. They will also be responsible for managing members of the Secondaries team.
The Secondaries team is comprised of over 20 investment professionals in Toronto and London and has an established track record with more than a decade of investing experience. In the past three years Secondaries has invested in over 30 transactions ranging in size from $50 million to over $1 billion and currently manages a portfolio in excess of $10 billion. Secondaries’ mandate calls for continued growth to support the expansion of CPP Investments’ private equity portfolio.
Secondaries’ investment strategy leverages CPP Investments’ structural advantages of a long-time horizon, scale and certainty of assets. Our Secondaries business has developed concrete competitive advantages and continues to evolve to succeed in the dynamic, global secondaries market. We have best-in-class GP relationships which accrue from having one of the largest primary funds programs in the world.
The key elements of the role can be summarized as follows:
A) Source & Analyze:
- Source attractive investment opportunities through leveraging strong relationships with CPP Investments’ Funds team, our deep GP relationships, secondary market intermediaries, and other external partners
- Lead the analysis and evaluation of transactions across our entire secondaries product suite
- Work with other CPP Investments’ investment groups (both within the private equity department and beyond) as required to assist with the assessment and execution of new transactions
- Make investment recommendations based on the results of the team’s due diligence and analysis
- Oversee the drafting of investment recommendations outlining potential investment opportunities
- Present investment recommendations for internal approval and act as a senior advocate for individual transactions as well as for our Secondaries business as a whole
C) Execute Investments:
- Lead the negotiation and execution of transaction-related legal documentation
- Manage relationships with GPs and, on a selected basis, advisors (financial, legal, commercial) and other LPs
D) Monitor Investments:
- Review and approve capital calls and distributions related to current investments
- Coordinate with CPP Investments’ Finance & Operations group with respect to monitoring investments
- Monitor ongoing financial performance of GPs and our underlying investments
- Participate in sell-down processes on behalf of the wider Private Equity department
E) Build the Team:
- Review, analyze and comment on investment recommendations prepared by deal teams
- Help lead strategy formulation and decision making within the Secondaries Group
- Represent CPP Investments externally and be an active communicator of our strategies and objectives
- Participate in and contribute to weekly departmental meetings
- Lead the training and development of junior investment professionals
- Play a lead role in recruiting activities
- Other relevant duties and projects as assigned
- 13+ years of private equity or other relevant experience
- Proven experience in sourcing, executing and completing successful deals
- Excellent investment judgement and “sense of the deal”
- Experience leading negotiations with multiple stakeholders and executing a wide range of agreements
- Superior interpersonal skills; demonstrated communication and presentation skills (oral and written)
- Demonstrated experience building, overseeing, leading, coaching and developing deal teams
- Additional languages an asset
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At CPP Investments, we are committed to diversity and equitable access to employment opportunities based on ability.
We thank all applicants for their interest but will only contact candidates selected to advance in the hiring process.
Our Commitment to Inclusion and Diversity:
In addition to being dedicated to building a workforce that reflects diverse talent, we are committed to fostering an inclusive and accessible experience. If you require an accommodation for any part of the recruitment process (including alternate formats of materials, accessible meeting rooms, etc.), please let us know and we will work with you to meet your needs.
CPP Investments does not accept resumes from employment placement agencies, head-hunters or recruitment suppliers that are not in a formal contractual arrangement with us. Our recruitment supplier arrangements are restricted to specific hiring needs and do not include this or other web-site job postings. Any resume or other information received from a supplier not approved by CPP Investments to provide resumes to this posting or web-site will be considered unsolicited and will not be considered. CPP Investments will not pay any referral, placement or other fee for the supply of such unsolicited resumes or information.