Looking into PE Associate programs at the Canadian pensions. I know they have a good name in general (CPP / OTPP / PSP / OMERS etc.). I'm wondering what exits are available to PE Associates in these firms. Do they get the same opps (MF PE, well known HF) as analysts in BB IB or UMM PE?
Can anyone with direct experiences at these firms speak on what sorts of headhunters reach out to them?
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90% of people who work at those pensions in PE roles have no desire to exit
Because? Is the comp and wlb that good?
The balance between comp and WLB is very good
Very good exits are available if you choose to exit. Headhunters reach out with good roles all the time.
Thanks, so to clarify, you can get UMM and MF PE offers?
Yes but if you want MF in the states, you’d have a much easier time recruiting from a US bank or PE shop
The least prestige obsessed WSO user:
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I’ve seen a few anecdotally from their industry focused groups. Eg CPP Infrastructure to Global Infrastructure Partners, Stonepeak, etc. A cursory LinkedIn search will be helpful here.
Their direct PE arm is also strong but I think that was more 2013-2018. Idk about now.
Yup I've checked LinkedIn a bit. Seems like real opps come from infra and real estate. Seen a bit of credit too, though not something like CPP to BX exits in PE. Strange
Yup - Canadian pension funds have built quite a domestic expertise in real asset investing (e.g. OTPP has a greenfield renewables team, which is unheard of for a pension fund or even PE fund unless its through a portfolio company or as a project finance sponsor). Meanwhile there's quite a saturation for PE talent, hence why you don't see as much CPP Direct PE -> Apollo PE or OTPP Credit -> Oaktree Distressed Debt, much easier to recruit in the US in this case.
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