Canada’s Caisse de dépôt et placement du Québec (CDPQ) has named Rana Ghorayeb as executive vice president and head of real estate, a role in which she will lead investments for the pension fund’s C$77 billion (US$56.93 billion) property arm, Ivanhoé Cambridge.
Ghorayeb was president and chief executive officer of Otéra Capital, a CDPQ unit that specialiases in real estate lending.
Her appointment comes two months after CDPQ announced plans to combine Ivanhoé Cambridge and Otéra Capital into an internal investment division of the pension fund.
Ghorayeb will take over the duties of Ivanhoé Cambridge Chief Executive Officer Nathalie Palladitcheff, who is leaving at the end of April, CDPQ says in a statement on March 21.
Her appointment will be effective April 29 when Ivanhoé Cambridge is folded into the pension fund. She will report to CDPQ President and CEO Charles Emond.
CDPQ, which manages public pension plans and insurance schemes in the province of Quebec, had C$424 billion of assets under management as of June 2023.
