Canadian pension funds PE in London/Europe
Hey all, just wanted to learn more about the direct generalist PE teams of the Canadian pension funds operating in Europe, particularly in London as I saw many offers recently (CPP, OTPP, OMERS, CDPQ, PSP, etc)
How active are they currently in the European market? How are they perceived in terms of brand reputation and market positioning? I'm also curious how working at one of these platforms is generally viewed in the industry, especially compared to traditional PE funds, given that pension funds are often more focused on minority investments and co-investments, if I understand correctly. I’d be interested to understand if it's common or feasible to transition to a larger or more traditional PE fund after spending a few years at one of these funds.
Many thanks!
They don’t hire SAs. For FT I’ve heard great things culture/work wise
Yes, I was referring to FT positions
Im sure its doable to move, I have a friend who was at one of this and moved to a fairly known MM fund in london. Work life balance is great but he was quite bored. I think these funds are like a “public sector” job in PE. Most of the people there just want to chill, which is fine but obviously won’t attract the best motivated individuals. Don’t discount that
Anecdotally I know another guy at one of these and he also only wanted a chill job, and his dream is to get a public sector job back home
Yeah, that makes sense — I’ve heard similar things. The work-life balance is definitely a big plus, so it can be a bit slower-paced compared to traditional PE. Seems like a great fit if he's after stability and lifestyle, but maybe less so if looking for a really intense, deal-heavy job.
The Canadian pension funds are definitely active in Europe, especially in London. They're known for large, long-term investments and are seen as solid shops, though not always as flashy as traditional PE firms. Working at one of these can give you a lot of exposure to different deal types, especially with their focus on minority stakes and co-investments. As for transitioning to a more traditional PE role later, it’s possible but as others mentioned above, keep in mind their particular work style / environment - there could be better options if you're aiming for a faster-paced environment.
Thank you so much, I really appreciate it. I’m currently in process with one of the funds for a direct associate-level position on their team. I’m just wondering where they stand in terms of ranking and recognition, or what other names of similar calibre in London would be, just to gauge my options (thinking about names like IK Partners, Ardian, Hg, Oakley - of course I know Canadians are far away from KKR, Apollo and others). I’m aware they’re quite different from traditional private equity and from everything that’s been said - just wanted to get a sense
The funds you mentioned (IK, Ardian, Hg, Oakley) are well-respected mid-market or growth-oriented shops in London, each with its own style and focus. They’re generally a step below the mega-funds like KKR or Apollo in terms of global scale & deal size, but within their segments they’re highly credible and offer strong deal exposure.
Compared to these shops, the Canadian pension funds operate on a much larger scale and focus more on long-term, strategic investments and co-investments. Mid-market PE firms are smaller, more hands-on, and often take controlling stakes, so the experience tends to be faster-paced and more execution-heavy.
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