Key Takeaways
- • Lori Hall-Kimm, global private equity head at Healthcare of Ontario Pension Plan (HOOPP), is departing after nearly five years to pursue other opportunities, triggering a leadership transition at one of Canada's largest pension fund managers.
- • Mark Cormier and Roman Gula have stepped in as interim co-heads of HOOPP's private equity division, which manages a portfolio that has grown to approximately C$24.2 billion (or $21 billion USD equivalent).
- • HOOPP's private equity team comprises over 20 investment professionals managing a significant allocation across direct private equity investments alongside general partner fund commitments, with the portfolio delivering 9.3% returns.
- • The succession plan reflects HOOPP's decision to implement co-leadership rather than appoint a single replacement, distributing responsibilities across the interim co-heads during the search for permanent leadership.
Summary
Lori Hall-Kimm is exiting her role as head of global private equity at Healthcare of Ontario Pension Plan (HOOPP), marking a significant leadership change at the Ontario-based pension fund. Hall-Kimm, who spent nearly five years building and overseeing HOOPP's private equity strategy, is departing to pursue other opportunities, according to multiple sources covering the transition.
HOOPP's private equity division represents a material allocation within the pension plan's broader investment portfolio. The division manages approximately C$24.2 billion in assets, with Hall-Kimm's team comprising more than 20 investment professionals. The portfolio has demonstrated solid performance, delivering 9.3% returns, with the majority of direct private equity investments made alongside established general partners through co-investment structures and fund commitments.
In response to Hall-Kimm's departure, HOOPP has appointed Mark Cormier and Roman Gula as interim co-heads of the private equity function. This dual-leadership structure will guide the division during a transition period as the pension plan conducts a search for permanent leadership. The co-head arrangement allows HOOPP to maintain continuity in its private equity operations and decision-making processes while evaluating long-term succession options.
The transition reflects broader leadership dynamics within Canada's pension fund community, where private equity has become an increasingly critical allocation for large institutional investors seeking diversification and return enhancement. HOOPP's move to internal co-leadership during the search demonstrates confidence in its existing investment management bench strength while signaling the importance of private equity to the organization's portfolio strategy.
HOOPP's private equity division represents a material allocation within the pension plan's broader investment portfolio. The division manages approximately C$24.2 billion in assets, with Hall-Kimm's team comprising more than 20 investment professionals. The portfolio has demonstrated solid performance, delivering 9.3% returns, with the majority of direct private equity investments made alongside established general partners through co-investment structures and fund commitments.
In response to Hall-Kimm's departure, HOOPP has appointed Mark Cormier and Roman Gula as interim co-heads of the private equity function. This dual-leadership structure will guide the division during a transition period as the pension plan conducts a search for permanent leadership. The co-head arrangement allows HOOPP to maintain continuity in its private equity operations and decision-making processes while evaluating long-term succession options.
The transition reflects broader leadership dynamics within Canada's pension fund community, where private equity has become an increasingly critical allocation for large institutional investors seeking diversification and return enhancement. HOOPP's move to internal co-leadership during the search demonstrates confidence in its existing investment management bench strength while signaling the importance of private equity to the organization's portfolio strategy.
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