The Ontario Teachers’ Pension Plan Board has appointed Pierre Cherki to lead its new in-house real estate asset group.

Cherki will become the fund operator’s executive managing director of real estate on January 22.

“This is a new investment leadership position at Ontario Teachers’, which will oversee its in-house real estate asset group to be established as of January 1, 2024,” said the board in a news release.

Teachers’ is one of Canada’s largest institutional investors. In June 2023, the board announced an evolution to its real estate investment model that will bring commercial real estate development and investment firm Cadillac Fairview’s international investment professionals in house. The move is designed to align CF professionals with Teachers’ other investment asset groups. 

Cherki will oversee Teachers’ global real estate investment and portfolio management activities and a team of about 40 investment professionals located in Toronto, London, Singapore, Dallas, and Sao Paulo. Teachers’ real estate portfolio, including assets under CF, is valued at $29.3 billion as of June 30, 2023.

“Under Pierre’s leadership, we plan to explore ways of effectively diversifying our portfolio by sector and stage internationally,” said Joe Taylor, Teachers’ president and CEO.

Cherki has served on CF’s board since 2022. He has spent most of his 25-plus-year career in real estate with DWS.