British Columbia Investment Management Corp. let go about 10 staff in its private equity arm this week, trimming the ranks of its teams focused on direct buyouts and funds after appointing a new head of the division early this year, sources said. <\/p>\n
The most senior departure was Natasha Dillon, a senior managing director in charge of value creation, who was one of two high-level hires<\/a> in 2024 to build out BCI\u2019s London office and establish a hub for deal-making in Europe.<\/p>\n Other staff leaving BCI included principals and directors based in New York, London and Victoria, where BCI is headquartered. Some of the staff who are leaving had covered sectors such as business services, health care and technology, according to two sources with knowledge of the departures.<\/p>\n The Globe and Mail is not identifying the sources as they are not authorized to discuss the changes publicly.<\/p>\n \u201cBCI\u2019s private equity program has made a decision to simplify its operating model and sharpen the execution and delivery of the investment strategy,\u201d a spokesperson said in a statement. \u201cWhile we don\u2019t comment on specific personnel matters, this decision impacts a small number of colleagues, and we\u2019re thankful for their contributions.\u201d<\/p>\n BCI is one of Canada\u2019s largest pension fund managers, with $295-billlion in assets under management and a $36-billion private equity portfolio, invested on behalf of 32 public sector pension and institutional clients.<\/p>\n