The C$400.29 billion ($304.1 billion) Canada Pension Plan Investment Board (CPPIB) has named Zubaid Ahmad to the newly created position of senior advisor for the US.
The US market accounts for nearly one-third of the CPPIB’s entire portfolio. As of June 30, the fund had investments in the US that were worth C$126.5 billion, or just under 32% of the fund’s total asset value.
“The US remains the largest investment region for CPPIB and appointing Zubaid as senior advisor will build on our presence and network of investment partners,” Alain Carrier, CPPIB’s head of international, said in a release. “Amid the competitive investment landscape, adding another dedicated resource with Zubaid’s expertise and network will help to focus our efforts and identify new opportunities.”
Ahmad will be based out of New York, and the fund said he will focus on identifying and evaluating potential investment opportunities and partners to help improve the fund’s position in the US market. He will work closely with CPPIB’s investment departments to support deal origination and to contribute to the assessment of investment opportunities in various sectors and asset classes.
CPPIB owns holdings in public and private companies throughout North America, including real estate developments, investment funds, private equity, and hedge funds.
Ahmad has more than 35 years of experience in corporate finance and has ties to the investment banking and private equity communities. He is the founder and managing partner of Caravanserai Partners LLC, a New York-based boutique merchant banking firm that focuses on M&A, sovereign advisory, strategic capital raising and alternative investment activities.
While with Caravanserai Partners, Zubaid was also a senior advisor for investment manager Muzinich & Co., and for London-based private equity firm Actis. Prior to launching Caravanserai, he was vice chairman of Citigroup’s Institutional Clients Group, and co-head of its Global Asset Managers group. He has also held senior roles at J.P. Morgan and Credit Suisse, among other firms.
“I am pleased to partner with a global investment organization of CPPIB’s caliber and reputation, and to help expand its investment activities in the United States,” Ahmad said in a release. “I have had the opportunity to work with a number of the CPPIB investment teams over the years in my other roles and am looking forward to working with the organization even more closely.”
Zubaid received an MBA from Harvard University and a Bachelor of Science in business administration from Georgetown University.
CPPIB’s New York office was opened in 2014 and is headed by Michael Hill. CPPIB expanded its US presence in June when it opened an office in San Francisco.