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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.