British Columbia Investment Management Corp (BCI) has appointed Jon Salon as its new global head of private equity, taking over from Jim Pittman who is leaving after nearly a decade. Salon, who joined BCI in 2024 from Evernorth Health Services, will oversee a $36bn private equity platform. Under Pittman, this platform grew from $7bn and expanded internationally with offices in New York and London. Salon will be based in New York, continuing BCI’s strategy of diversification beyond traditional buyouts.

The appointment comes as large pension funds adjust strategies in a more selective private equity environment. BCI invests on behalf of British Columbia’s public sector pension plans and reported $251.6bn in net assets as of March 31. Salon’s experience at Bedford Funding, where he was a founding partner, and his leadership at Evernorth Health Services are expected to further enhance BCI’s private equity capabilities. His background in healthcare and buyouts is particularly relevant as pension funds seek to optimize returns in a changing market.

Salon’s role is pivotal as pension funds increasingly refine their leadership and strategies. The private equity market is becoming more selective, requiring experienced leaders to navigate opportunities and risks. Investors will watch how Salon’s leadership impacts BCI’s portfolio and strategy. The focus will be on how he leverages his diverse experience to drive growth and performance in the global private equity arena.