Ontario Teachers’ Pension Plan (OTPP), a long-standing pension investor in the insurance-linked securities (ILS) market, has promoted Shavir Nagarwalla to the role of Managing Director, Head of Hedge Funds and Insurance Linked Securities.
Nagarwalla has a background in investments at pension funds and endowments, with a focus on allocating to hedge funds, external managers and other private market investments.
He joined Ontario Teachers’ Pension Plan in April 2022 as co-lead for its hedge fund strategies and a director.
Nagarwalla announced in a LinkedIn post that he has been promoted to Managing Director this month and now takes all of the hedge fund investment activities under his wing, including the insurance-linked securities (ILS) strategy at the pension fund.
Prior to joining OTPP, Nagarwalla worked at the CPP Investment Board for almost four years, which manages Canada Pension Plan investments, focusing on emerging manager investments in the hedge fund space.
Before that he spent two hears at Hilltop Fund Management and one year prior to that at Quantum Advisors, again with a hedge fund investment focus in each role.
Prior to that he spent seven years at Vanderbilt University investing for and administering the endowment there.
Ontario Teachers’ has been through a re-structuring of some its investment teams, including the ILS specialism, in recent years.
In the past, OTPP had as much as $3.5 billion deployed into ILS opportunities and remains a meaningful investor allocating to the space at this time.