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Thematic Investing

TI develops portfolios that benefit from long-horizon investment themes across the globe. Our in-depth research informs a view on the business impacts of innovations in technology, business models and demographics – in some cases for decades into the future.

We look for opportunities where the long-term implications of these structural changes are not fully reflected by market prices. We invest in public or private companies with an objective of generating long-term outperformance relative to global equity markets.

Our Team

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The TI team is comprised of experienced professionals with offices in Toronto, London, San Francisco and Hong Kong. Here is a listing of all our senior team members, categorized and searchable by city.

The TI team is comprised of experienced professionals with offices in Toronto, London and Hong Kong. Here is a listing of all our senior team members, categorized and searchable by city.

The TI team is comprised of experienced professionals with offices in Toronto, London and Hong Kong. Here is a listing of all our senior team members, categorized and searchable by city.

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Leon S. Pedersen

Managing Director, Head of Thematic Investing

Leon is a seasoned thematic investing professional with global experience at high-profile investment management organizations.

Prior to joining CPP Investments, he worked 22 years at Nordea Investment Management and most recently spent four years as Head of Equities for Denmark-based BI Asset Management. In 2003, Leon co-authored, “The Thematic Investment Process,” which highlights several themes still relevant today.

Leon holds BS and MS degrees from Copenhagen Business School in Denmark. He is a CFA charterholder and attended the executive program at Singularity University in California in 2013.

Daniel Fetter

Senior Portfolio Manager, Thematic Investing

Dan leads the team within the Thematic Investing group that invests in private companies and special opportunities.

Dan joined CPP Investments in 2006 where he was a founding member of the Infrastructure team, and was responsible for the origination, execution, and board oversight of several global investments – both in developed and emerging markets. Dan has spent time in the Toronto and London offices of CPP Investments, and joined Thematic Investing in 2016 to help build the Special Opportunities group.

Prior to joining CPP Investments, Dan was part of a turnaround team focused on corporate restructuring and P&L improvement at TELUS, and prior to that, was a management consultant at the Boston Consulting Group in Toronto.

Dan holds an MBA from INSEAD (Paris and Singapore) and a MASc (Mechanical Engineering) from the University of Toronto.

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Paul McCracken

Senior Portfolio Manager, Thematic Investing

Paul is responsible for building our thematic portfolios through equity investments in private and public companies focused on innovations in health care. Prior to that, he was responsible for leading the launch and scale-up of the global health care portfolio for the Active Fundamental Equities team, and building the Active Equities health care team.  

Prior to joining CPP Investments in 2009, Paul was a Senior Vice President at Barclays Capital and Lehman Brothers in New York, leading the Health Care Desk-Based Analytics team for trading in public equities and equity derivatives. Previously, Paul held a series of positions in financial services, private start-up ventures, and strategy consulting.  

Paul holds a B.A.H in Chemistry and English, a B.Sc.H in Chemistry, and a Ph.D. in Organic Chemistry from Queen’s University in Kingston, Ont.  

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Kyu Ho

Senior Portfolio Manager, Thematic Investing

Kyu leads the Asia team within our Thematic Investing group, which invests in companies exposed to long-horizon secular growth.

Kyu has over 20 years of experience in investment management and private equity. Prior to joining CPP Investments, he was a senior fund manager at Value Partners in Hong Kong; and was previously founder and Chief Investment Officer at long/short equity fund Wuzhu Asia Partners. Kyu also served as Director of Asia Research at Kingdon Capital Management in New York.

Kyu holds an MBA from The Wharton School and a BA from Northwestern University.

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Dureka Carrasquillo

Senior Portfolio Manager, Thematic Investing

Dureka is currently on secondment to Thematic Investing. Her investment style is fundamental equity long/short analysis with a tilt toward investment ideas with structural thematic bias.

Dureka has worked in asset management for 19 years, 12 of those in hedge funds with Andor Capital/Partner Fund Management and Tranberg Capital. 

She holds degrees from Harvard University.

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Caitlin Walsh

Senior Portfolio Manager, Thematic Investing

Caitlin is responsible for building thematic portfolios exposed to long-term secular growth and recently established our San Francisco office for Thematic Investing. Caitlin is a founding member of the Thematic Investing team in Toronto, leading proprietary research into themes and investing in companies expected to benefit. 

Prior to joining CPP Investments in 2014, Caitlin led strategy consulting teams at Bain & Co. She also worked at Basswood Partners, a New York based hedge fund, and at Merrill Lynch.  

Caitlin holds a BS in Mathematics from McGill University and an MBA from the University of Chicago Booth School of Business.  

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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