The head of Asia private equity at the Canada Pension Plan Investment Board (CPPIB), Frank Su, has left the firm to join the Abu Dhabi Pension Fund as its global head of private equity, according to a report by Pension & Investments.
The reports cites unnamed sources familiar with the matter as highlighting that Su’s transition is part of a growing trend of Hong Kong-based financial professionals relocating to the Middle East amid a slowdown in deals.
Starting next month, Su will oversee global capital deployment at the Abu Dhabi Pension Fund, significantly broadening his scope from his previous role managing CPPIB’s Asia-focused private equity investments.
Su’s departure after 11 years at CPPIB follows the pension fund’s decision to appoint Caitlin Gubbels as the new leader of its global private equity group, succeeding Suyi Kim, who departed after 17 years with the organisation.
A CPPIB spokesperson confirmed Su’s departure, stating, “We have a strong team in Asia who will continue to build on the important portfolio we have in the region.”
Representatives from the Abu Dhabi Pension Fund did not respond to requests for comment.
