Canadian pension fund to open London office with Permira principal

PSP Investments, which is responsible for the pensions of Canada’s civil servants, is to open a London office, the Wall Street Journal has reported. 

The fund’s European private equity investment business will be headed by Simon Marc, formerly a principal in Permira‘s French business and who has also spent time at Candover, Apax Partners and Goldman Sachs.

The fund joins a number of other North American LPs who currently have or plan to open outposts in London, including The Teacher Retirement System of Texas, which announced the establishment of a European base in the city earlier this month.

Headed in Montreal and Ottawa, PSP Investments reported assets under management of $112bn (€75bn) as at March 2015.