André Bourbonnais – Blackrock Long-Term Private Capital (First Meeting, EP.04)

Capital Allocators – Inside the Institutional Investment Industry

Ted Seides – Allocator and Asset Management Expert

Business, Investing

4.7 • 841 Ratings

🗓️ 22 July 2019

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

André Bourbonnais is a Managing Director at Blackrock and Global Head of its newly launched Long-Term Private Capital business, a multi-billion dollar permanent capital private equity fund. André brought thirty years of private market transaction and management experience to the role, most recently as CEO and Chief Investment Officer of PSP Investments, the $110 billion Montreal-based Canadian pension fund. He previously served as Senior Managing Director and Global Head of Private Investments at the Canada Pension Plan Investment Board (CPPIB), where he was responsible for over $65 billion in private market assets, the largest program of its kind globally.

Our conversation talks about the creation of Blackrock's innovative private equity fund starting with a clean sheet of paper. We discuss the traditional private equity playbook, the changes in financial structure, business strategy, and return drivers that can occur with permanent capital, the structure of the fund, deal origination, a new ownership playbook, the re-underwriting process, sell decisions, portfolio construction, and managing a team whose careers will be shorter than the duration of the fund.

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Transcript

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