The Canadian pension giant is integrating Ivanhoé Cambridge and Otéra Capital, also announcing the April departure of Ivanhoé Cambridge CEO Nathalie Palladitcheff.
Interest rates and market volatility continue to pose a significant risk for many plans.
The Colleges of Applied Arts and Technology Pension Plan also identified a widening pension gap between generations.
Cherki will oversee a team of 40 and manage the pension fund’s C$29.3 billion real estate portfolio.
The pension giant also sold a buyout fund portfolio for C$2 billion and German wind assets for C$374 million.
The C$249.8 billion pension fund has named Stephen McLennan acting head of investments.
Canada’s second-largest pension fund raised its portfolio’s asset value to C$424.2 billion.
The C$250 billion pension fund also netted a 4.8% return for the 12-month period that ended June 30.
Despite the investment loss, net transfers helped raise the Canadian pension giant’s asset value to C$575 billion.
Positive asset returns, combined with rising bond yields, helped boost pension funds’ solvency.
Bruce Crane has managed the Canadian pension fund’s infrastructure and natural resources investments in the region since 2020.
The Canadian pension investment manager raised its net AUM to $182.3 billion.
The pension fund’s C$69.1 billion portfolio was weighed down by fixed-income and public equity investments.