November 13, 2000
Mark A. Weisdorf, most recently head of Canadian investment banking with HSBC Securities, has been appointed Vice President – Private Market Investments at the Canada Pension Plan Investment Board.
He is responsible for developing and implementing the CPP Investment Board’s strategy in merchant banking, real estate, venture capital, private equity, infrastructure financing and other private market alternative investments.
Currently the CPP Investment Board invests all cash it receives from the Canada Pension Plan in public market stock index funds, principally replicating the TSE 300 Index, the S&P 500 Index and the EAFE Index. Assets under management, which totalled approximately $6 billion at the quarter ended September 30, 2000 are expected to exceed $100 billion within the decade. Mark Weisdorf’s appointment signals the beginning of our plan to explore the benefits of diversifying our current practice of investing in public markets through stock index funds,” commented CPP Investment Board President and Chief Executive Officer John A. MacNaughton. “Our hope is to be in a position to initiate our first private equity investments as early as the spring of 2001.” Mr. Weisdorf, who has an 18-year career with three investment firms, said: “Private markets are less developed in Canada than in the United States, which means the long-term growth prospects should be stronger.” While his mandate is global, Mr. Weisdorf said there are attractive private investment opportunities throughout Canada in a wide variety of sectors. (The CPP Investment Board is required to invest at least 75 percent of assets at cost in Canada this year and 70 percent next year.)
Mr. Weisdorf became a Chartered Accountant in 1981 and subsequently earned accreditation as a Chartered Financial Analyst and Chartered Business Valuator. He began his career at Deloitte & Touche and spent a year with the Ontario Securities Commission before assuming senior positions at Merrill Lynch Canada and CIBC Wood Gundy. Mr. Weisdorf joined HSBC Securities (Canada) Inc. in 1996 and built its investment banking business. He also served as deputy chief executive. His track record ranges from assisting entrepreneurs, families, merchant bankers, venture capitalists and other intermediaries in structuring pools of capital to making private investments and maximizing returns through public offerings, mergers and sales to third parties. His expertise includes merger, acquisition, financing and strategic advisory services to firms of all sizes. Industry experience covers real estate, industrial manufacturing, telecommunications, data processing, natural resources, financial services, and health care and life sciences. The CPP Investment Board is a crown corporation created by an Act of Parliament in December 1997. It invests funds not needed by the Canada Pension Plan to pay current pensions in capital markets. Currently, cash flows are invested only in equities to balance the $30 billion bond portfolio owned by the Canada Pension Plan. By increasing the long-term value of funds, the CPP Investment Board will help the Plan to keep its pension promise to Canadians. The CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm’s length from governments.
For further information contact:
John A. MacNaughton President and Chief Executive Officer (416) 868-4077 or Mark A. Weisdorf Vice President – Private Market Investments