Pierre has an interesting past....It would appear he had ties with Bain Capital, having previously been a partner at Bain & Company, who are part of the same investment firm, and oddly enough one of the term lenders for Essar Steel Algoma....Hmmmm....Very Interesting indeed...I wonder who Pierre also has ties with?  Could it be that Pierre may be working for more than just the Canadian Infrastructure Bank...?  I can see a lot of strategic investment being rushed through once he is seated in this new position as CEO....The Algoma saga should end quickly, and a lot of private investment entities will soon profit immensely as he opens the doors for some close friends hiding in the wings...Bain Capital being one.

https://www.linkedin.com/in/pierre-lavall%C3%A9e-473b0b4/

Summary

Experience

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  Senior Managing Director & Global Head, Investment PartnershipsCPP Investment BoardJanuary 2015 – Present (3 years 5 months) | Toronto, Canada Area
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  SVP and Chief Talent OfficerCPP Investment BoardMarch 2013 – Present (5 years 3 months) | Toronto, Canada Area
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  VP and Head of Funds & SecondariesCPP Investment BoardApril 2012 – April 2013 (1 year 1 month) | Toronto, Canada Area
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  Executive Vice-PresidentReitmans Canada Ltd.January 2010 – September 2011 (1 year 9 months)
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  PartnerBain & CompanyJune 1991 – December 2009 (18 years 7 months)
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  Trade CommissionerDepartment of Foreign Affairs and International Trade1986 – 1991 (5 years)

https://www.bnnbloomberg.ca/canada-s-35b-infrastructure-bank-picks-pierre-lavallee-as-ceo-1.1082298#_gus&_gucid=&_gup=twitter&_gsc=IUYB6vW

https://www.sootoday.com/local-news/new-deal-for-steel-mill-would-affect-pensions-local-tax-bill-423289

Quote from article:

According to one sworn affidavit filed in the Essar Algoma insolvency case, the company's principal term lenders include Bain Capital, GoldenTree Asset Management, Sankaty Advisors, and Oak Hill Capital Partners.

Bain Capital was founded in 1984 by Mitt Romney and two partners. Romney left the firm to run the 2002 Salt Lake City Winter Olympics and then campaigned in 2012 as Republican nominee for president of the United States. Bain has been widely criticized for taking million-dollar fees for loading up companies with debt, but an article last year in the Boston Globe described Bain as now being a very different company, with an emphasis on 'social-impact' investing.

GoldenTree Asset Management LP's holdings include 52 per cent of Postmedia Network Canada Corp., owner of the Sault Star, Sault This Week, Elliot Lake Standard, Sudbury Star, Timmins Daily Press, Timmins Times, North Bay Nugget, Barrie Examiner and many other Canadian newspapers.

Unraveling ownership issues surrounding the Port of Algoma and the cogen plant is viewed as especially important if the recapitalization plan is to succeed.

"The intercompany arrangements between Essar Steel Algoma Inc. and Port of Algoma Inc. and between Essar Steel Algoma Inc. and Essar Power Canada Ltd. must necessarily be addressed as part of the restructuring transaction," said Andrea Lockhart, a Toronto lawyer representing debtor-in-possession lenders and a majority of term lenders.

"To this end, the restructuring term sheet specifically provides that the amendment of the Port of Algoma agreements and the amendment of the cogen agreements must be agreed to or subject to waiver by the requisite consenting creditors as a condition to closing of the restructuring transaction," Lockhart said in an affidavit sworn last Thursday.