Canada’s newest public-sector pensions manager, the Investment Management Corporation of Ontario, has recruited its first chief investment officer and is on the lookout for deals and partnerships in the UK and Europe.

The firm, which manages C$60bn (US$45bn) on behalf of two Ontario public-sector funds, launched in July last year. It has named Jean Michel, a former senior executive at the Caisse de Dépôt et Placement du Québec, to lead its investment department in Toronto.