CalPERS Taps CalSTRS Vet For Private Equity Program

May 31 2011 | 2:33pm ET

The California Public Employees’ Retirement System has hired a former employee of its sister fund, the state teachers’ pension, to oversee its $49 billion private equity program.

Réal Desrochers, who formerly oversaw private equity for CalSTRS, will now be responsible for managing CalPERS’ globally diversified portfolio of private equity investments, about $33 billion of which is invested via the Alternative Asset Management program.

Reporting to CalPERS’ CIO Joseph Dear, Desrochers will also oversee the private equity investment team and external advisors.

“I’m extremely confident in Réal Desrochers and his skills leading our team of investment professionals,” said Dear. “He did a fine job in overseeing the private equity program of our sister fund…generating annual returns of more than 17% in the decade that he was there. He also worked for Caisse de Depot of Quebec, Canada’s largest pension plan, for more than 11 years before joining CalSTRS.”

Desrochers, who left CalSTRS in 2009, has also advised Blackstone Capital, J.H. Whitney, Texas Pacific Group, Permira and China Renaissance Industries. Prior to joining CalPERS, he was the CIO of Saudi Arabian Investment Company.

CalPERS is the nation’s largest public pension fund with approximately $236 billion in market assets.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Expert Says Scale Of Baillon Classic Car Find Rare

Dec 29 2014 | 3:40am ET

Forget about hedge funds, buying rare, classic cars could be called the ultimate...

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.