CPPIB Taps Schroders’ Sophie Van Oosterom as Global Head of Real Estate

The Canada Pension Plan Investment Board (CPPIB) has tapped Sophie Van Oosterom to lead its global real estate business, according to market sources who spoke to Mingtiandi.

The executive will be departing her parallel role at British investment manager Schroders Capital to replace Peter Ballon, who resigned from the Toronto-based pension giant in July.

Schroders separately announced on Wednesday the promotion of Nick Montgomery, a 12-year veteran of the British firm who currently leads its UK real estate investment business, to global head of real estate as part of a broader real estate leadership shuffle.

“I extend my deep gratitude to Sophie for her commitment to the business,” Georg Wunderlin, global head of private assets at Schroders Capital said in a release. “It has been a pleasure to work with her and I wish her every success as she embarks on a new role on the client-side.”

Three Decade Veteran

Van Oosterom has led Schroders’ global real estate investment business since January 2021, where she chaired the fund manager’s global real estate management committee and global investment committee. Her recruitment by CPPIB was reported earlier by Green Street News in the UK.

Prior to Schroders, Van Oosterom served as CEO and chief investment officer for Europe, Middle East and Africa at CBRE Global Investors (now CBRE Investment Management), where she also served as a member of the organisation’s global executive committee and global investment committee.

Before that, Van Oosterom was a managing director and head of asset and portfolio management for Europe and Asia at Lehman Brothers Real Estate Partners (now Silverpeak Real Estate Partners). The University of Amsterdam graduate’s nearly three decade career also includes stints at JP Morgan and Barings.

Van Oosterom is taking the helm at CPPIB’s real estate business as the Canadian pension giant takes on a series of data centre investments.

On Tuesday, CPPIB unveiled a $15 joint venture with Singapore sovereign giant GIC and US data centre operator Equinix to develop and operate hyperscale facilities in the US. The US deal comes after CPPIB and US private equity titan Blackstone last month announced the $16 billion acquisition of Australia’s AirTrunk, with CPPIB having agreed to take a 12 percent stake in the firm.

Schroders Shuffle

Schroders Capital, the private markets unit of investment firm Schroders, pointed to Montgomery’s promotion as strengthening its real estate capabilities and client proposition. The firm managed $97.3 billion of global assets as of 30 June, of which $27.9 billion comprised real estate assets located in 16 markets.

“I am privileged to take on this role and excited at the prospect of leading Schroders Capital Real Estate, a business with a 50-year history,” said Montgomery. “Alongside the senior promotions announced today, we have a fantastic global team who are fully dedicated to delivering investment excellence and outperformance for clients.”

Montgomery added, “These changes also coincide with a cyclical recovery in many real estate markets, which provides a supportive backdrop for growing this strategically important part of Schroders Capital. I look forward to working with Sophie to ensure an orderly transition.”

In addition to Montgomery’s appointment, Schroders has named Kieran Farrelly as global chief investment officer for real estate, while James Macnamara will assume global responsibility for value-add and alternatives investments, building on his current focus as head of strategy, hotels and operating assets. The fund manager also named Roger Hennig as head of continental Europe.

“I have worked closely with Nick and all the members of his team, and I am thrilled that they will be stepping up to oversee our international real estate franchise, which now manages over $27.9 billion of assets across 16 markets,” said Wunderlin.

In addition to direct real estate, Schroders Capital also invests in private equity, infrastructure, secondaries, venture capital, securitised products and asset-based finance, private debt, and insurance-linked securities.

Earlier this year, Schroders named Hong Kong-based Ingrid Cheh as co-chief investment officer of Asia real estate, with the promotion coming nearly three years after she was named head of Hong Kong real estate.

Last November, a Schroders joint venture with co-living provider Dash Living acquired a 49-key multi-family asset in Tokyo, after the investment manager in 2022 established its Japanese real estate investment business and hired JP Morgan veteran Keisuke Kusano to oversee its property initiatives in the country.