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The group leverages fundamental insights from internal subject matter experts who identify mispriced securities across targeted domains of the equity market, which are used to create a market-neutral portfolio of high-conviction investments.

Our Team

The Europe team is comprised of experienced professionals based in London. Here is a listing of all our senior team members.

Pat Naccarato

Managing Director, Head of Active Equities Europe

Pat heads the team responsible for delivering alpha through active security selection of public, and soon to be public, equity investments in Europe.

Pat has managed public equity portfolios across a variety of regions across the world for pension funds, mutual funds and private client assets. Prior to joining CPP Investments in 2009, he was a Vice President and Portfolio Manager at Phillips Hager and North Investment Management (now RBC) and TAL Investment Management (now CIBC).

Pat holds an Honors Bachelor of Mathematics from the University of Waterloo and an MBA from Wilfrid Laurier University, and is a CFA Charterholder.

Pat currently serves on the board of Viking Cruise Holdings Ltd.

Henrik Olsson

Managing Director, Active Equities Europe

Henrik is responsible for the European Decarbonization domain which includes public equity companies exposed to rapidly changing regulation around carbon and climate change in Europe – in particular, the EU Taxonomy and European Emissions Trading Scheme. This domain crosses a range of sectors, including capital goods, materials, utilities and automotive. Henrik is also the interim head of the European Technology Media Telecom domain.

He joined CPPIB in 2014, focusing on publicly listed equities in Europe. Henrik has long experience in European public equities, both as a generalist and a sector specialist, and both on the buy-side investing in long-short strategies at Sloane Robinson and Theorema Asset Management, as well as on the sell-side at investment banks Cazenove and ABG Sundal Collier.

Henrik holds a BSc in Finance as well as a Master of Laws from the University of Lund and a Master of Laws (LLM) from the University of London.

Nathan Townsend

Managing Director, Active Equites Europe

Nathan focuses on overall European coverage as well as leading the group’s industry coverage of the Industrial, Specialty Chemicals & Materials, Business Services, and Infrastructure sectors in the region.

Before joining CPP Investments in 2014, Nathan spent six years in public markets investing with Lincoln Vale European Partners and Sterling Strategic Value. Prior to that, he was an IPP Fellow working in the Parliament of Germany. Nathan began his career in Morgan Stanley’s Investment Banking division in New York, Hong Kong, and Frankfurt.

Nathan holds a BSFS from the School of Foreign Service at Georgetown University and an MPP from the Harvard Kennedy School  at Harvard University.

Joy Verlé

Managing Director, Active Equities Europe

Joy leads the group’s industry coverage of the Healthcare Services sector in Europe.

Prior to joining CPP Investments in 2016, Joy was a Partner at Bregal Capital in London, where she worked on Private Equity transactions in Europe for nine years. She started her career in the Investment Banking division of Morgan Stanley in London.

Joy holds an MSc in Finance from HEC Paris.

She currently serves on the boards of ORPEA, a leading global provider of long-term care; ELIS, a global leader in the industrial laundry, textile rental and hygiene industry and Galileo Global Education, world leader in post-secondary education.

Our Active Equity Holdings

We are invested globally in public and soon to be public companies, as well as securities focused on long-horizon structural changes.
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