The Canada Pension Plan Investment Board has appointed former Goldman Sachs executive Mark Machin to the position of president for CPPIB’s Asian division. The appointment takes effect March 19, 2012.
Machin spent 20 years at Goldman Sachs in various senior positions in London, Hong Kong and Beijing. Most recently, he led Goldman’s investment banking business in Asia, participating in many of the largest equity offerings and privatizations in the region.
“We are extremely pleased to have [Machin] join our senior executive team. His appointment represents an important addition to CPPIB’s capabilities as a global investment organization,” said David Denison, president and CEO of CPPIB. “There are compelling long-term growth opportunities in Asia, and Mark’s appointment demonstrates CPPIB’s commitment to investment in this geography.”
Machin will be responsible for the development of CPPIB’s investment strategy and programs throughout the Asia-Pacific region. He will be located in CPPIB’s Hong Kong office.
CPPIB also announced that it has retained Vikram Gandhi and his firm VSG Capital Advisors as senior advisors, effective March 1, 2012. Based in India and Hong Kong, VSG and Gandhi will provide strategic advice and develop and facilitate investment opportunities for the organization in the Indian sub-continent. Prior to founding VSG, Gandhi was the global head, financial institutions group and vice-chairman, investment banking department, for Credit Suisse in New York and Hong Kong.
The CPPIB has been diversifying its investments away from volatile stocks and low-yielding bonds to include real estate, infrastructure and other assets.
It has put millions into a variety of investments and companies in Asia, where economies are booming and major investment opportunities loom. In December, it injected another US$250 million into its 80% owned warehousing joint venture, Goodman China Logistics Holding, saying the investments will be used to drive new growth opportunities in mainland China.
As of Dec. 31, 2011, CPPIB had $13.1 billion in public equity, real estate and private investments in the Asia-Pacific region, including Australia.