3i Group Plc., the U.K.’s largest publicly traded private equity firm, said infrastructure head Cressida Hogg will leave at the end of next month.
She will be replaced by Phil White and Ben Loomes, 36, as co-managing partners of the infrastructure unit, London-based 3i said in a statement today. Neil King will oversee dealmaking and fundraising, 3i said.
Hogg, 44, is leaving for the Canada Pension Plan Investment Board, the investment arm of the country’s largest retirement fund, according to two people with knowledge of the decision, who asked not to be identified because they weren’t authorized to speak publicly. She didn’t immediately respond to a telephone call seeking comment.
“I am sorry to see Cressida leave our business and would like to thank her for her contribution,” 3i Chief Executive Officer Simon Borrows said in the statement. “Her departure provides an opportunity to promote a number of very talented individuals and, in doing so, bring further energy and focus to investment origination and business development.”
Hogg, who joined 3i in 1995 from JPMorgan Chase & Co., helped start the company’s push into infrastructure business in 2005 and became the unit’s managing partner in 2009.