Capital Allocators – Inside the Institutional Investment Industry CIO Greatest Hits: Sovereign Wealth Funds – Geoffrey Rubin (CPPIB)
9 snips
Sep 1, 2025 
Geoffrey Rubin, the Managing Director at CPP Investments, shares insights on the innovative investment strategies of sovereign wealth funds. He discusses the differences between CPPIB and the Australia Future Fund's approaches to portfolio management. The conversation dives into navigating the complexities of institutional investing, the importance of a collaborative culture, and the evolution of investment strategies with a long-term focus. Rubin also touches on personal passions, highlighting how curiosity and mentorship shape his professional journey.
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Canadian Model Enables Active Investing
- The Canadian model commits governance to active, long-horizon investing rather than minimizing risk for a fixed target.
- That governance gave CPPIB the mandate and confidence to build internal active capabilities over 15 years.
Define Risk Appetite And Delegate
- Set clear governance boundaries with delegated management responsibilities to enable confident long-term action.
- Let the board define risk appetite and delegate strategic execution to management within those boundaries.
Use Crawl-Walk-Run To Build Teams
- Build capabilities using a crawl, walk, run approach: start with external managers then internalize skills gradually.
- Use secondments and partnerships with GPs to learn before scaling internal teams.
