Two CalPERS’ Alt. Investment Managers Resign

Feb 17 2011 | 9:40am ET

Two senior portfolio managers of CalPERS’ $47.5 billion alternative investment management program have resigned.

CalPERS spokesman Clark McKinley confirmed the resignations of Joncarlo Mark and Michael Dutton to Pensions&Investments.

McKinley said neither man gave reasons for departing their posts at the $226.5 billion California Public Employees’ Retirement System.

Mark's resignation is effective March 31 and Dutton's sometime in March. Their duties will be taken up by other staff in the AIM program, McKinley said.

Mark, who had been with CalPERS since 1999, and Dutton, who had led the system’s healthcare investment initiative, announced their resignations separately, McKinley told P&I, adding he did  not know the men’s future plans.

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