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Canadian Fund With $6 Billion War Chest Picks London for EU Hub

  • PSP investment board plans to hire private-equity executives
  • CEO: real estate values are frothy; we like infrastructure

The Public Sector Pension Investment Board picked London as its European hub and plans to spend as much as 4.6 billion pounds ($6 billion) in the region in the next five years.

The fund, which manages the savings of the Canadian armed forces, the Royal Canadian Mounted Police and the reserves, plans to hire executives for its private-equity and private-debt business, according to a statement on Wednesday. PSP said it’s seeking to raise the number of investment professionals working in London to 40 from 28 within the next 12 months.