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CBRE Caledon taps Ontario Teachers’ Pickett

Darrin Pickett has been appointed by CBRE Caledon to lead an asset management strategy for the firm's global infrastructure portfolio.

CBRE Caledon Capital Management recruited Darrin Pickett as vice president of asset management, Buyouts has learned.

Pickett joined following a 23-year career, roughly half of it working with Ontario Teachers’ Pension Plan. He was most recently a senior principal in Ontario Teachers’ infrastructure and natural resources group, where he led the development and execution of a global infrastructure asset management strategy.

Before then, Pickett was vice president of the power, energy and infrastructure finance unit of CIT Group.

Pickett will head an asset management strategy for CBRE Caledon’s global infrastructure portfolio. Working with investment teams, he will coordinate the Toronto-based firm’s asset management activities with a focus on enhancing company and portfolio performance.

Stephen Dowd, CBRE Caledon’s global head of infrastructure, told Buyouts that Pickett’s value-adding role is key to a fast-growing and increasingly diverse portfolio.

CBRE Caledon makes direct investments and co-investments in infrastructure assets through opportunities generated by a network of strategic and institutional investors as well as fund partners. It also invests in funds on a primary or secondary basis. At present, the firm has $2.4 billion invested directly in 31 individual assets.

CBRE Caledon’s most recent infrastructure deal, closed this month, was a $256 million investment in Pattern Energy Group, a San Francisco-based renewable energy company backed by Riverstone Holdings. CAAT Pension Plan and other institutions invested alongside.

CBRE Caledon also earlier this year partnered with CapMan Infra to acquire Norled, a Bergen, Norway-based ferry and express boat operator. The seller was Norwegian shipping business DSD.

CBRE Caledon provides customized infrastructure and private equity services to global institutions. Founded in 2007 as Caledon Capital Management by David Rogers, previously the head of OMERS’ PE group, the firm today oversees more than $9.8 billion in assets.

Two years ago, CBRE Group acquired a majority stake in Caledon. The rebranded firm now operates as a separate unit within CBRE’s real asset investment subsidiary, CBRE Global Investors. It has a second office in London.

CBRE Caledon’s clients include Newfoundland and Labrador Pooled Pension Fund, Newfoundland Teachers’ Pension Plan, New Mexico Educational Retirement Board and the Salvation Army’s pension and endowment funds.

Action Item: Learn more about CBRE Caledon Capital Management here.