Canada Pension Hires Coyotes Owner to Lead Energy UnitScott Deveau
Canada Pension Plan Investment Board has named Avik Dey, the energy investor who co-owns the Arizona Coyotes hockey team, head of its oil and gas program.
Dey, who founded private equity firm Remvest Energy Partners LLC in 2011 and has served as chief financial officer of the Coyotes since helping bail out the team last year, will join Canada’s largest pension manager on Sept. 15, Linda Sims, the fund’s spokeswoman, said in an e-mail.
The appointment of Dey comes at a time when North America’s energy industry is booming with initial public offerings and asset sales. Seven Generations Energy Ltd. and Teine Energy Ltd., in which Canada Pension holds minority stakes, are among oil and gas producers planning to sell shares later this year.
Dey didn’t immediately return calls seeking comment.
Remvest has invested in several privately held companies in North and Latin America including Alvopetro Energy Ltd, Miramar Hydrocarbons Ltd., Fracar Energy Rentals LLC, and Carrao Energy Ltd., according to its website.
Prior to Remvest, Dey was the founder and chief financial officer of private equity firm Remora Energy and held various positions at First Reserve Corp., Deutsche Bank AG and Encana Corp.
He was among a group of investors who purchased the troubled Phoenix Coyotes hockey team last year through IceArizona Acquisitions Co. The group included Anthony LeBlanc, a former Research in Motion Ltd. executive, and George Gosbee, chief executive officer of AltaCorp Capital Inc., a Calgary-based investment bank. The team was later renamed the Arizona Coyotes.
Fox Sports first reported that Dey was stepping down as CFO of the Coyotes in August, citing the investor in an interview.