Erol Uzumeri, the head of Teachers’ Private Capital, the private equity arm of the Ontario Teachers’ Pension Plan will leave the firm next month, confirmed a spokesperson. CIO Neil Petroff will assume Uzumeri’s responsibilities until a replacement is named.
Uzumeri could not be reached by press time. Canada's Globe and Mail newspaper reportedly said he will be launching a money management firm.
Uzumeri joined Ontario Teachers’ in 2003 as a vice president responsible for international investments. In 2007, he was promoted to run the private equity unit, which invests directly as well as with private equity fund managers.
Prior to joining Ontario Teachers’, Uzumeri was a vice president at CVC International, where he evaluated and executed a number of private equity investments.
Teachers’ Private Capital has invested in more than 300 companies. Companies in its current portfolio include healthstore chain GNC, Valentine Fashion Group, and Glenstone Capital.