Ontario Teachers' plants flag with Asia-Pacific head

Canada's Ontario Teachers' Pension Plan (OTPP) announced the appointment of Nicole Musicco as its new Asia-Pacific head yesterday.

It comes after Musicco relocated from Toronto to Hong Kong over the summer. She started a few months ago, according to a spokesman for the pension fund, which has $154.5 billion in assets including $12 billion of Asia-Pacific investments.

The spokesman described Musicco’s move as “planting the flag” after the buildout in the Hong Kong office, which was opened in 2013. At that time, Alison Nankivell, Toronto-based director of funds for Asia, had been tipped to head the Hong Kong office, but left OTPP for another role.

Prior to taking on the new role, Musicco was vice-president of Teachers’ Private Capital.

Last year, Dan Kiang and Olivia Ouyang joined OTPP’s Hong Kong office as directors focused on direct equities investment and fund/co-investment, respectively.

Now Musicco has assumed responsibility for all asset classes across the region. Kiang has reported to Toronto-based Ken Manget, vice-president of relationship investing and public equities, since April, while Ouyang has reported to Toronto-based Tanya Carmichael, director of global funds, since August.

Prior to that Kiang reported to Toronto-based Michael Wissell, while Ouyang reported to Musicco. Both Ouyang, who joined from CIC, and Musicco have private equity backgrounds.

Musicco was among the responsible officers registered with Hong Kong Securities and Futures Commission when OTPP set up its office in 2013, along with other Toronto-based staff including Teachers Private Capital head Jane Rowe, Wissell and fixed income and global hedge fund head Wayne Kuzun, alongside Hong Kong-based PE managers Christian Dunn and Raju Ruparelia.

Ruparelia and Junho Cho – who joined last month – are the office’s two senior principals, focused on co-investments and direct equities investment, respectively.