(November 13 – 12:45 ET) – Mark Weisdorf, most recently head of Canadian investment banking with HSBC Securities, has been appointed vice president, private market investments at the Canada Pension Plan Investment Board.

Weisdorf is responsible for developing and implementing the CPP Investment Board’s strategy in merchant banking, real estate, venture capital, private equity, infrastructure financing and other private market alternative investments.

Currently the CPP Investment Board invests all cash it receives from the Canada Pension Plan in public market stock index funds, principally replicating the TSE 300 Index, the S&P 500 Index and the EAFE Index. Assets under management, which totalled approximately $6 billion at the quarter ended September 30 are expected to exceed $100 billion within the decade.

“Mark Weisdorf’s appointment signals the beginning of our plan to explore the benefits of diversifying our current practice of investing in public markets through stock index funds,” commented CPP Investment Board president and CEO John MacNaughton. “Our hope is to be in a position to initiate our first private equity investments as early as the spring of 2001.”

Weisdorf, who has an 18-year career with three investment firms, said: “Private markets are less developed in Canada than in the United States, which means the long-term growth prospects should be stronger.”

While his mandate is global, Weisdorf said there are attractive private investment opportunities throughout Canada in a wide variety of sectors. The CPP Investment Board is required to invest at least 75% of assets at cost in Canada this year and 70% next year.

Weisdorf became a CA in 1981 and subsequently earned accreditation as a CFA and Chartered Business Valuator. He began his career at Deloitte & Touche and spent a year with the Ontario Securities Commission before assuming senior positions at Merrill Lynch Canada and CIBC Wood Gundy. Weisdorf joined HSBC Securities (Canada) Inc. in 1996 and built its investment banking business. He also served as deputy chief executive.
-IE Staff