Adam Vigna, head of principal credit investments, has decided to depart the Canada Pension Plan Investment Board (CPPIB) to take positions as chief investment officer at Power Corporation of Canada and managing director at Sagard Capital. Today, Friday 14 October, is Vigna’s last day with CPPIB.
Vigna, who will start his new positions in November, told Private Debt Investor he is leaving for an “exciting opportunity” and that CPPIB has been a “phenomenal organisation to work for”. He added that his responsibilities will be taken over by John Graham, currently the private investment division’s head of portfolio investment and business management.
A CPPIB spokesman was not immediately available for comment.
During his time at the Toronto-based pension fund, Vigna oversaw the private debt platform’s expansion into a global presence. CPPIB bought US direct lender Antares Capital for $12 billion in June 2015 and announced in March it had entered into a $525 million partnership with Kotak Mahindra Group to invest in distressed debt in India.
Vigna is not the only member of the senior leadership to leave CPPIB in recent months. In September, Mark Jenkins left his role as global head of private investments, where he led the Antares acquisition, to become The Carlyle Group’s first global head of credit. Earlier this year, David Allen, who built up CPPIB’s European credit activities, left to start his own fund, AlbaCore Capital, and later hired his former deputy at CPPIB, Bill Ammons.
CPPIB manages C$278.9 billion ($211.4 million, €191.2 million) in assets. Headquartered in Toronto, the firm has offices in Hong Kong, New York, Luxembourg, Mumbai, Sao Paulo, and London.
Editor's note: The standfirst has been updated.