HOOPP loses its global PE head while CPPIB sees a wave of exits
Two of Canada's largest pension fund managers are navigating senior-level departures, with the Healthcare of Ontario Pension Plan (HOOPP) losing its global head of private equity and CPP Investments (CPPIB) seeing a wave of exits across multiple investment divisions.
HOOPP's global private equity head Lori Hall-Kimm is leaving the pension fund to pursue another opportunity, Bloomberg reported on Aug. 19. Managing directors Mark Cormier and Roman Gula will take over as interim co-heads of private equity, reporting to Chief Investment Officer Michael Wissell, according to an internal memo seen by Bloomberg. A HOOPP representative confirmed the memo's contents, the outlet said.
During Hall-Kimm's tenure, which began in 2022, HOOPP's private equity net assets grew to $24.2 billion from roughly $20 billion. Before joining HOOPP, she spent six years at CPP Investments, holding several positions within its private equity business. HOOPP held $132 billion in assets at the end of 2025 and serves more than 504,000 active, deferred and retired members among hospital and community-based healthcare workers in Ontario.
Separately, CPP Investments has experienced several departures from its senior ranks over recent weeks, according to people familiar with the matter cited by Bloomberg reporters Layan Odeh and Paula Sambo. The affected areas included investment risk, credit, real assets and sustainable energies, according to the sources and Bloomberg News analysis of LinkedIn posts.
The “circumstances are a mix of voluntary and involuntary departures, all in line with business-as-usual retention rates and usual efficiency decisions due to evolving markets and strategies,” Michel Leduc, the pension manager’s head of public affairs, said in a statement to Bloomberg.
The Toronto-based fund, which manages $863.6 billion in net assets, had 2,084 employees at the end of its last fiscal year, down from 2,125 a year earlier. CEO John Graham noted in the fund's annual report that CPP Investments was managing approximately $220 billion more in assets with fewer staff than at the end of fiscal 2023, underscoring the organization's emphasis on operating discipline.
