Abdulaziz Mohammed Al Mulla has been named managing director and CEO of the fund.
The current head of global equity will take over the role for CEO Rob Sharps at the start of the new year.
Cherki will oversee a team of 40 and manage the pension fund’s C$29.3 billion real estate portfolio.
The deal includes French private equity firm Ardian acquiring a 15% stake in FGP TopCo, leaving the Qatar Investment Authority as the largest shareholder.
The institutional investors lost a combined total of nearly $162 million from investments in the bank’s holding company, SVB Financial Group.
Schlachter will replace Doug Wesley, whose retirement was announced recently.
Famous for his predictions, the celebrated investing strategist died at 90.