Public Sector Pension Investment Board (PSP Investments), one of Canada's largest pension investment managers, is opening an office in London to increase its European exposure across a number of asset classes, including real estate.
The pension investor said its local team will focus on 'high-quality, long-term investments' predominantly in the private equity, private debt, infrastructure and real estate asset classes.
PSP Investments had €85 bn of assets under management globally at end-September 2016.
The European hub currently has a team of 28 professionals. It is located in a PSP Investments' majority-owned, newly constructed building located in Victoria at 10 Bressenden Place.
Stéphane Jalbert, managing director of real estate investments, is responsible for real estate investment activities in the UK and Europe. He joined PSP Investments in 2009 and has over 20 years of global real estate investment management experience. PSP Investments' real estate investments in Europe include a joint venture with UK insurer Aviva that owns 12 office buildings in Central London. It has also partnered with UK REIT Segro on a €1 bn European logistics fund.
'PSP Investments' vision is to be a leading global institutional investor that delivers on its risk-return objective by driving a total fund perspective,' said André Bourbonnais, president and CEO of PSP Investments. 'Establishing a European hub is a strategic milestone for us and demonstrates our confidence and commitment to the region.'
