The Infrastructure group invests in large-scale infrastructure businesses with stable long-term cash flows and minimal substitution risk. Typically, our investment opportunities are in regulated networks (water, gas, electricity and telecoms), transportation (toll roads, ports, rail and airports) and energy (pipelines and storage) sectors, making them less vulnerable to economic downturns.
We seek opportunities with a minimum equity investment of C$500 million and are willing to commit several billion dollars to the right investment. While most are significant minority positions, we have the ability to hold up to 100%, and our global knowledge of infrastructure businesses across sectors makes us highly engaged and active shareholders. We look to invest with like-minded partners whose long-term interests align with ours – and we’re willing to hold investments for the very long term with no requirement to exit.
Our Team
The Infrastructure team is comprised of experienced professionals with offices in Toronto, London, New York, Sao Paulo, Mumbai, and Sydney. Here is a listing of all our senior team members, categorized and searchable by city.
The Infrastructure team is comprised of experienced professionals with offices in Toronto, London, New York, Sao Paulo, Mumbai, and Sydney. Here is a listing of all our senior team members, categorized and searchable by city.
The Infrastructure team is comprised of experienced professionals with offices in Toronto, London, New York, Sao Paulo, Mumbai, and Sydney. Here is a listing of all our senior team members, categorized and searchable by city.
The Infrastructure team is comprised of experienced professionals with offices in Toronto, London, New York, Sao Paulo, Mumbai, and Sydney. Here is a listing of all our senior team members, categorized and searchable by city.
The Infrastructure team is comprised of experienced professionals with offices in Toronto, London, New York, Sao Paulo, Mumbai, and Sydney. Here is a listing of all our senior team members, categorized and searchable by city.
The Infrastructure team is comprised of experienced professionals with offices in Toronto, London, New York, Sao Paulo, Mumbai, and Sydney. Here is a listing of all our senior team members, categorized and searchable by city.
Andrew Alley
Managing Director, Head of Infrastructure, North America & Australasia
Andrew leads our investment activities in Infrastructure in North America, Asia (ex-India) and Australia and has served in senior roles in Infrastructure in our Hong Kong, Sydney, London and Toronto offices. Infrastructure investments focus on asset-intensive businesses with stable, predictable long-term returns, and typically include essential services as utilities, transport, telecommunications and energy.
Prior to joining CPP Investments in 2007, Andrew worked in the Energy Investment Banking group at RBC Capital Markets in Calgary, Alberta and in the Business Development group at Pengrowth Energy Trust.
Andrew holds a BA, Finance from Michigan State University, and an MBA from the University of Western Ontario. He is a CFA charterholder.
Andrew is on the boards of 407 ETR in Canada, Transurban Chesapeake in the United States, and the Cikopo-Palimanan (Cipali) toll road in Indonesia.
Yiyi Yang
Managing Director, Infrastructure
Yiyi is a senior member of our Infrastructure team with a focus on North America.
Yiyi joined CPP Investments in 2008 as a Rotational Analyst.
Yiyi holds a Bachelor of Commerce degree from University of Toronto.
He is on the board of Intoll Toronto Roads Limited in Canada and served on the board of Chicago Skyway in the US.
James Bryce
Managing Director, Head of Infrastructure
James leads the global Infrastructure team. Previously, he was head of the Portfolio Value Creation group, supporting management teams of individual investments to achieve full value potential.
Prior to joining CPP Investments in 2012, James was a Managing Director at Royal Bank Equity Finance (the private equity arm of RBS), where he spent 10 years focused on infrastructure and private equity transactions. Before that, he was a member of the private equity team at JP Morgan Capital and started his career as a pension fund manager at Hambros Bank.
James holds an MA in Theology from Keble College, Oxford.
He currently serves on the boards of Anglian Water, Associated British Ports and Viterra Agriculture.
Batiste Ogier
Managing Director, Head of Infrastructure, Europe
Batiste leads our investment activities in Infrastructure in Europe, having previously been a Managing Director within the Portfolio Value Creation Team in London.
Prior to joining CPP Investments in 2019, Batiste worked as an Investment Director for the European Infrastructure business of First State Investments, during which time he was a Director on the Boards of Anglian Water and Coriance.
Batiste holds a BA in European Studies from Kings College London and qualified as a Chartered Accountant (ICAEW) in 2007.
Batiste is on the boards of Anglian Water and Renewable Power Capital, all of which are based in the UK. He is also a member of CPP Investments’ European Credit Committee.
Phil Butcher
Managing Director, Infrastructure
Phil is a senior member of our Infrastructure team, originating, executing and managing investments across the transportation, utility, energy and telecom infrastructure sectors.
Prior to joining CPP Investments in 2012, Phil worked at Macquarie Capital where he started out in the Telecom, Media, Entertainment and Technology advisory team, before moving to the Infrastructure advisory team to work on principal transactions and third-party mandates.
Phil holds a BComm and Major in Economics from the University of Toronto, and an MBA from London Business School.
Phil is on the boards of Ports America Group and Associated British Ports.
Graham Davies
Managing Director, Infrastructure
Graham is a senior member of our Infrastructure team in Europe, with a particular focus on digital infrastructure (including residential and enterprise fiber, towers, small cells, in-building cellular connectivity and private networks).
Prior to joining CPPIB in 2013, Graham was part of the Private Equity team at Altima Partners in London.
Before that, he worked in the telecoms industry as an in-house consultant at Talk Talk (leading UK-based ISP).
Graham holds a DPhil in Environmental Sciences and a MBA, both from Oxford University.
He currently serves as an Alternate Director for CPPIB on the Board of Boldyn Networks.
Julienne Sugarek
Managing Director, Infrastructure
Julienne is a senior member of our Infrastructure team responsible for originating, executing and managing North American investments in the utility sector.
Prior to joining CPP Investments in 2021, Julienne spent over 14 years in the utility industry where she held numerous leadership positions. Before transitioning to the utility sector, Julienne spent six years working for Texas state government.
Julienne holds a BS (Hons) and an MBA from The University of Texas at Austin. She is a licensed CPA.
Ricardo Szlejf
Managing Director, Head of Infrastructure & Sustainable Energies, Latin America
Ricardo is responsible for leading our investment activities in Infrastructure and SEG in Latin America and has been overseeing investments in energy and infrastructure in Brazil, Mexico, Chile and Peru.
Prior to joining CPP Investments in 2015, Ricardo spent over 20 years covering the energy and infrastructure segments, including at Bank of America and Santander.
Ricardo holds a BS in Business Administration from Fundação Getúlio Vargas in São Paulo and an MBA from INSEAD (Paris).
He is on the boards of Auren in Brazil and IDEAL in Mexico.
Sebastian Berardi
Managing Director, Infrastructure & Sustainable Energies
Sebastian is a senior member of our Infrastructure and Sustainable Energies teams with a focus on Latin America, where he is responsible for originating, executing and managing investments across the transportation, utility, energy, water and telecom infrastructure sectors.
Prior to joining CPP Investments in 2014, Sebastian worked for Tenaris as an engineer in various roles in the Oil & Gas and Steel manufacturing industries.
Sebastian holds an Industrial Engineering Degree from Instituto Tecnológico de Buenos Aires and an MBA from Harvard Business School.
He is on the boards of IDEAL, Autopista Arco Norte and Autopista Guadalajara-Tepic in Mexico, and Igua Saneamento, a Brazilian water and sewage treatment company. Sebastian also chairs the Investment Advisory Committee of Transelec’s board in Chile.
Mariana Nishimura
Managing Director, Infrastructure & Sustainable Energies
Mariana is a senior member of our Infrastructure and SEG teams with a focus on Latin America, where she is responsible for originating, executing and managing investments across a broad range of sectors, including digital infrastructure, utilities and energy.
Prior to joining CPP Investments in 2020, Mariana spent 15 years covering power and utilities and telecom sectors as an investment banker at Santander, Bradesco, UBS, Citi and ABN AMRO.
Mariana holds a BS in Business Administration from Fundação Getúlio Vargas in São Paulo and an MBA from INSEAD.
She is on the boards of Transportadora de Gas del Perú, Grupo Costanera, and V.Tal.
Paul Bernath
Managing Director, Infrastructure & Australia Office Head
Paul is responsible for leading our Infrastructure presence in Australia and the broader Asia Pacific region (ex-India), having previously been based in Toronto. Paul is also Australia Office Head for CPP Investments.
Prior to joining CPP Investments in 2014, Paul spent over 10 years focusing on public and private mergers and acquisitions, capital markets and restructuring projects and large infrastructure transactions, including time as a corporate attorney at Allens Linklaters and as an M&A transaction consultant, based in Australia and the U.S.
Paul holds a BSc (Hons) (Pharm.) from the University of Melbourne and an LLB (Hons) from the Melbourne Law School; and has also studied on exchange at the University of British Columbia.
Paul is on the boards of Pacific National, WestConnex, NorthConnex and WestLink M7 in Australia, and the Cikopo-Palimanan (Cipali) toll road in Indonesia.
Alex Karroum
Managing Director, Infrastructure
Alex is a senior member of our Infrastructure team and is responsible for originating, executing and managing investments across the full range of infrastructure sectors in Australia and the broader Asia Pacific region (ex-India).
Prior to joining CPP Investments in 2016, Alex worked at Morgan Stanley across Australia and the U.K, where he advised Infrastructure and Private Equity clients on mergers and acquisitions.
Alex holds a Bachelor of Commerce from the University of Melbourne. He is a CFA charterholder.
Alex is on the boards of Boldyn Networks, BAI Australia and WestConnex (Alternate Director).
Kavita Saha
Managing Director, Head of Infrastructure & Sustainable Energies, India
Kavita leads our Infrastructure and Sustainable Energies team in India, focusing on executing and managing investments in the transportation, renewables and utilities sectors.
Prior to joining CPP Investments in 2018, Kavita spent over eight years in the JP Morgan Asian Infrastructure & Related Resources Opportunity Fund (AIRRO), part of JP Morgan’s Global Alternatives group. She was responsible for execution of infrastructure investments in India in roads, energy and healthcare infrastructure. Before that, she spent over 15 years as an investment banker with Barclays, IL&FS Financial Services Ltd. and Industrial Development Bank of India.
Kavita holds a BSc (Hons) in Physics and an MBA from Faculty of Management Studies, Delhi University in India. She is a CFA charterholder.
She is currently on the Board of Directors for Renew Energy Global Plc and National Highways Infra Investment Managers Private Limited.
Pushkar Kulkarni
Managing Director, Infrastructure & Sustainable Energies
Pushkar is a senior member of our Infrastructure team responsible for originating, executing and managing investments across the transportation, utility and energy sectors. Pushkar was responsible for starting the Infrastructure practice in India.
Prior to joining CPP Investments in 2015, Pushkar led Serco PLC’s India Transport Infrastructure business and has worked in leadership positions across the Infrastructure value chain.
Pushkar holds a BEng (Electronics) from VJTI and an MBA from JBIMS; Mumbai University.
Pushkar is on the boards of L&T IDPL and IndInfravit Investment Manager in India.