Former CalPERS Investment Committee Chair Joins Lyrical

Nov 9 2011 | 2:50pm ET

Lyrical Partners, the investment boutique established by the co-founder and former co-president of Greenlight Capital, Jeffrey Keswin, has tapped the former chair of the CalPERS investment committee as a managing director. 

Michael Flaherman was a board member at the California Public Employees Retirement System from 1995 and served as the investment committee chair from 2000 to 2003. In his newly created role at Lyrical, he will also serve on the firm’s investment committee for its funds of hedge funds.

At CalPERS, Flaherman led board decision-making on all aspects of the pension’s investment strategy, including asset allocation and CalPERS’ investment program in traditional and alternative equity, fixed income, real estate, and private equity. His role also included oversight of the fund’s investment operations, comprising 130 investment staff and nearly 300 external investment manager and consultant relationships.

Prior to joining CalPERS, Flaherman's professional experience focused primarily on transportation economics and since leaving the pension fund, he’s served on the boards of National Medical Health Card Systems and Ikaria and is currently a senior advisor to New Mountain Capital. 

“Mike’s combination of experience, analytical rigor and integrity is unique, and we’re proud to welcome him to the Lyrical team,” said Keswin, Lyrical’s founder and managing partner.  “Lyrical aims to manage and deliver straightforward, world-class investment propositions.  Mike’s addition will not only help us achieve this goal but also ensure that Lyrical remains closely attuned to our investors’ interests and needs.”

“Throughout my career, I’ve had the opportunity to analyze the traditional and alternative investment industry closely”, said Flaherman.  “I believe that, in each of its products—the fund of hedge funds, the traditional long-only equity business, and real estate—Lyrical has charted an uncommon path and, as a result, built an uncommonly value-added client offering.  I’m tremendously excited to join with Lyrical, its people and its products, to help grow a premier asset management franchise.”

Founded in 2004, Lyrical Partners and its affiliates manage funds of hedge funds, multi-family housing real estate funds and value equity portfolios.

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