CDPQ announces the appointment of Rana Ghorayeb as Executive Vice-President and Head of Real Estate
The Caisse de dépôt et placement du Québec (CDPQ) today announces the appointment of Rana Ghorayeb as Executive Vice-President and Head of Real Estate. In her new role, she will be responsible for managing the entire Ivanhoé Cambridge portfolio and the investment team, which manages over 77 billion Canadian dollars in assets.
Rana Ghorayeb was President and Chief Executive Officer of Otéra Capital, a subsidiary of CDPQ specialising in real estate financing, for almost five years. Even before joining CDPQ in 2012, Rana Ghorayeb had an impressive track record in the property industry with positions at well-known institutions. She served as Vice-President of Acquisitions at JP Morgan Asset Management in London, England, where she was responsible for property investments in several European countries. Prior to that, she worked in New York, where she was a senior partner at TIAA, a large US pension fund, where she led property transactions.
"Rana's career at CDPQ is remarkable. First as a Senior Vice-President in the Infrastructure team, where she built partnerships and made investments around the world that still benefit CDPQ today. Then as President and Chief Executive Officer of Otéra, where she excelled as a leader. Since joining five years ago, she has successfully led the company's comprehensive transformation, overseeing both the growth and diversification strategy of the portfolio that has made Otéra a major player in North America," comments Charles Emond, President and Chief Executive Officer of CDPQ. "With over 25 years of experience in the investment sector, including 20 years in the property industry - both locally and internationally - Rana has a real passion for projects and assets that have a positive impact on people's lives. Her appointment to lead the Ivanhoé Cambridge portfolio will allow her to combine her extensive investment knowledge with her world-class management skills."
"I started working at CDPQ 12 years ago and my attachment and commitment to our organisation has only grown since then. I am very excited to take on this new role. It gets to the heart of what motivates me the most: Projects that are rooted and built on people's everyday lives, building and nurturing sustainable partnerships," says Rana Ghorayeb. "The property sector is facing major challenges, but Nathalie Palladitcheff and her team have transformed the portfolio to put it in the best possible position for the future. Together with the team at Ivanhoé Cambridge, I am delighted to be able to contribute to the next chapter at this key moment in the property industry - fully aware that we have the key strengths to stay ahead of the game. I would also like to thank my current teams at Otéra Capital, whose commitment and high-quality work have driven our results and growth over the past five years."
Ivanhoé Cambridge's operations are currently being integrated into the CDPQ and as of 29 April 2024, the Ivanhoé Cambridge team will become an investment group within the CDPQ.* Rana Ghorayeb will take up her new position on that date and will report to the President and Chief Executive Officer of the CDPQ. The appointment of Rana Ghorayeb follows the announcement that Nathalie Palladitcheff, who will remain CEO of Ivanhoé Cambridge until the completion of the phased transition period, will leave the company at the end of April.
"Over the past five years, Nathalie has achieved much with conviction and courage to transform Ivanhoé Cambridge despite an extremely challenging property market. I would like to sincerely thank her as she will continue to work towards a harmonious integration of the property businesses and teams into CDPQ with all the empathy and diplomacy for which she is known," adds Charles Emond.
