Canadian Pension PSP Hires van Gelderen as CIO

After just a year at the University of California, the former APG CEO is taking over a C$153 billion Canadian fund.

Illustration by II

Illustration by II

The Public Sector Pension Investment Board has hired Eduard van Gelderen as its next chief investment officer, the organization confirmed Monday in a statement.

“Eduard has the precise combination of strong global expertise and leadership skills we were seeking for the chief investment officer position,” said Neil Cunningham, president and CEO of PSP Investments.

The appointment is effective immediately, and van Gelderen reports directly in to Cunningham, according to the Canadian organization.

Van Gelderen has departed University of California’s investment office after a year as a senior managing director. He put in his notice to resign earlier this month — the third employee to step down from the Oakland, California-based team recently. Van Gelderen previously served as chief executive of APG Asset Management.

[II Deep Dive: Exodus at the University of California as van Gelderen Quits]

He succeeds CIO Daniel Garant at PSP Investments. Garant left abruptly last summer.

PSP managed C$153 billion (US$117 billion) in pension assets for federal employees, the Canadian Forces, the Royal Canadian Mounted Police, and others, as of March 31.

“We are excited that our talent from the University of California Office of the Chief Investment Officer is attractive to large US and Canadian asset owners in leadership roles,” UC CIO Jagdeep Bachher said by email. “Over the last 4 years as people have done innovative things, we have even had 4 individuals leave to take on CIO title positions at endowments, family offices, and pension plans in US and now Canada.”

“We will not be replacing Eduard’s role and his responsibilities will be assumed by internal teams,” Bachher continued. “We wish Eduard and his family the best and look forward to collaborate with him over the long term.”

For his part, van Gelderen praised the Canadian model as “a leader among global pension markets.”