Ontario Teachers' Pension Plan has appointed Pierre Cherki as executive managing director, Real Estate, effective January 22, 2024.
This is a new investment leadership position at Ontario Teachers’, which will oversee its in-house real estate asset group to be established as of January 1, 2024. Cherki will be based in Toronto.
In June 2023, Ontario Teachers’ announced an evolution to its real estate investment model that will bring Cadillac Fairview’s international investment professionals in-house, aligned with Ontario Teachers’ other investment asset groups.
Cadillac Fairview will remain a core part of Ontario Teachers’ global real estate portfolio, with a focus on growth, diversification, and densification of its unmatched real estate assets in Canada, building on its strong reputation and history as a leader in this space.
As executive managing director, real estate, Cherki will oversee Ontario Teachers’ global real estate investing and portfolio management activities and a team of almost 40 investment professionals located in Toronto, London, Singapore, Dallas, and São Paulo.
Ontario Teachers’ real estate portfolio, inclusive of assets under Cadillac Fairview, is valued at $29.3 bn (€20 bn) as at June 30, 2023.
'I’m pleased to welcome Pierre to Ontario Teachers’ into this role,' said Jo Taylor, president and CEO, Ontario Teachers’.
'For many years real estate has been an important component of our asset mix. Under Pierre’s leadership we plan to explore ways of effectively diversifying our portfolio by sector and stage internationally.'
'I’m delighted to be joining Ontario Teachers’ and look forward to leading a strong team of global professionals in supporting further growth in the real estate portfolio,' said Cherki.
'Real estate has been a central part of the portfolio mix at Ontario Teachers’ for more than two decades and I am excited to build on that strong foundation to deliver value to plan members.'
Cherki brings more than 25 years of real estate experience to his new role, having spent most of his career at DWS Group, one of the world's largest managers of alternative investments with a sizable global real estate portfolio.
Since 2022, he has been a member of the Cadillac Fairview board of directors, giving him deep knowledge of the organization and international portfolio.