Key Takeaways
- • Adam Buzanis, CAAT Pension Plan's head of private markets, has been hired by Ontario Municipal Employees Retirement System (Omers) to lead its external private equity funds strategy, marking a significant leadership transition at CAAT following governance turmoil earlier in 2026.
- • Buzanis spent approximately seven years at CAAT, where he oversaw the pension fund's private equity strategy before expanding into a broader head of private markets role, positioning him as a seasoned institutional private markets executive.
- • Omers is centralizing private equity investing as a core pillar of its buyout business and requires external funds expertise to scale this capability, signaling strategic ambition to compete more aggressively in the alternative asset space.
- • This hire occurs amid CAAT's recent leadership instability, which included the January 2026 departures of Chief Investment Officer Asif Haque, Chief Financial Officer Mike Dawson, and Chief Pension Officer Evan Howard, plus the placement of CEO Derek Dobson on administrative leave, with Kevin Fahey serving as acting CEO and Plan Manager.
- • CAAT has demonstrated strong performance in private markets execution, having quadrupled its private equity assets over four years by internalizing strategy, though the organization is now undergoing governance reforms and a formal CEO search.
Summary
Adam Buzanis, a seven-year veteran of CAAT Pension Plan's investment team, has accepted a position as head of funds at Ontario Municipal Employees Retirement System (Omers), effective July 30, 2026. In this role, Buzanis will develop and lead Omers' external private equity funds business as the pension fund elevates alternative investing to a more central position within its overall investment strategy. The move represents a high-profile departure for CAAT, which has experienced significant executive turnover in recent months.
Buzanis previously served as CAAT's head of private markets, a position that followed his tenure overseeing the pension fund's private equity strategy. During his tenure at CAAT, he was instrumental in executing the fund's strategy to internalize private equity management, which resulted in the plan quadrupling its private equity assets over a four-year period. This track record of building and scaling alternative asset programs makes him a compelling hire for Omers as it pursues a more ambitious external funds strategy.
The timing of Buzanis's departure coincides with organizational turbulence at CAAT. In January 2026, the pension fund announced the departure of three senior executives: Chief Investment Officer Asif Haque, Chief Financial Officer Mike Dawson, and Chief Pension Officer Evan Howard. More recently, CEO Derek Dobson was placed on administrative leave, with Kevin Fahey, CFA, assuming the role of acting CEO and Plan Manager. In response to these leadership disruptions, CAAT's board completed an independent governance review, strengthened executive oversight mechanisms, and initiated a formal CEO search.
For Omers, the hiring of a proven alternative asset executive underscores the pension fund's commitment to expanding its private equity capabilities beyond traditional in-house management. By bringing Buzanis on board, Omers gains institutional knowledge and operational expertise in building external fund relationships and managing third-party partnerships—a capability distinct from the in-house model CAAT has successfully employed. This strategic hire signals Omers' intention to diversify its private equity sourcing and scale its exposure to buyout opportunities through both internal and external vehicles.
Buzanis previously served as CAAT's head of private markets, a position that followed his tenure overseeing the pension fund's private equity strategy. During his tenure at CAAT, he was instrumental in executing the fund's strategy to internalize private equity management, which resulted in the plan quadrupling its private equity assets over a four-year period. This track record of building and scaling alternative asset programs makes him a compelling hire for Omers as it pursues a more ambitious external funds strategy.
The timing of Buzanis's departure coincides with organizational turbulence at CAAT. In January 2026, the pension fund announced the departure of three senior executives: Chief Investment Officer Asif Haque, Chief Financial Officer Mike Dawson, and Chief Pension Officer Evan Howard. More recently, CEO Derek Dobson was placed on administrative leave, with Kevin Fahey, CFA, assuming the role of acting CEO and Plan Manager. In response to these leadership disruptions, CAAT's board completed an independent governance review, strengthened executive oversight mechanisms, and initiated a formal CEO search.
For Omers, the hiring of a proven alternative asset executive underscores the pension fund's commitment to expanding its private equity capabilities beyond traditional in-house management. By bringing Buzanis on board, Omers gains institutional knowledge and operational expertise in building external fund relationships and managing third-party partnerships—a capability distinct from the in-house model CAAT has successfully employed. This strategic hire signals Omers' intention to diversify its private equity sourcing and scale its exposure to buyout opportunities through both internal and external vehicles.
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