CIC private equity exec joins Ontario Teachers

Another China Investment Corp (CIC) private equity veteran has moved into the private sector.

Olivia Ouyang, a former private equity executive at CIC, has joined the Ontario Teachers’ Pension Plan in Hong Kong as director of funds and co-investments, according to pension plan’s website and a person with knowledge of the situation.

Ouyang joined Ontario Teachers in December, said Deborah Allan, a spokeswoman for the Canadian pension system.

Ouyang previously handled PE fund commitments, co-investments and direct investments in Europe and emerging markets for CIC, which she joined in 2010. Prior to CIC, she worked as a private equity investment officer at the International Finance Corp.

It’s not clear if Ouyang is a direct replacement for Alison Nankivell, who left the pension plan in August 2013 to take a job with the Business Development Bank of Canada. Nankivell worked on Asia fund investments in Hong Kong for Ontario Teachers.

Ontario Teachers opened its Hong Kong office in fall 2013.

Ouyang is the second former CIC private equity official who has moved recently into the private sector. EIG Global Energy Partners hired Yangyang Liu in September to run its Hong Kong office, Buyouts has reported.

CIC has been incubating PE talent since its founding in 2007. Investment officers work fixed employment contracts that usually run three years, and many decide to move into the private sector after gaining experience at the sovereign wealth fund. CIC had about US$652 billion in total asset as of the end of 2013, according to the Wall Street Journal.

Out of that massive pool of capital, about 28.2 percent falls within the category of “long-term investments,” which include PE fund commitments and direct investments, resources-commodities, real estate and infrastructure, according to CIC’s website.

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