Q1 2010 has seen many private equity LPs seeking to fill senior positions within their investment staff, including those of CIO and investment director. The USD 67 billion New Jersey State Investment Council is currently seeking a new CIO to replace William G. Clark, who has taken up the position of CIO at Federal Reserve System’s office of employee benefits. New Jersey State Investment Council has set a closing date of March 31st to receive any applications for the position. The USD 46.5 billion Michigan Department of Treasury is actively seeking a deputy CIO for its investment team. The public pension fund has a large private equity portfolio with close to USD 7.5 billion currently allocated to the asset class. Baylor University Endowment Fund, another LP active in the private equity space, is also looking for a new CIO. As well as these US-based LPs, National Pensions Reserve Fund, in Ireland, is also on the lookout for a new investment director.
As well as those private equity LPs currently looking to fill positions in their investment teams, Ohio Public Employees' Retirement System (OPERS), California Public Employees' Retirement System (CalPERS) and New Mexico Educational Retirement Board (NMERB) have all made senior hires in Q1 2010. John Lane was named as director of investments for OPERS in January, taking on responsibility for the investments of the USD 68.3 billion pension fund. CalPERS, which has USD 26.1 billion allocated to private equity, hired Tim Legesse to the position of investment officer for diversity. Mr. Legesse would act as the point of contact for new and emerging managers looking to gain commitments from CalPERS. In Q1 2010, CalPERS had also hired Janine M. Guillot to the position of chief operating investment officer. NMERB saw Bob Jacksha return to the position of CIO at the public pension fund to oversee the investments of the fund’s USD 8.2 billion total assets. Mr. Jacksha had most recently been the interim state investment officer. The Australian superannuation fund, Catholic Super, also hired Garrie Lette to manager of investments in February.
In addition to these private equity LPs that have been actively searching for and hiring new senior investment staff throughout Q1 2010, Cornell University Endowment will soon be searching for a new CIO. Incumbent CIO John Walsh is due to step-down from his position at the end of the academic year.
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