World’s Largest LP Wants GPs Who Can Scale

Jim Fasano, head of private equity funds for CPPIB, wants to partner with GPs who can “scale with us.” In this wide-ranging interview, Fasano tells why CPPIB’s size makes it difficult to move to a direct-only private equity program; explains the innovative “GP restructurings” of Behrman Capital and Kainos Capital; and details what attributes CPPIB looks for in a GP that can grow large.