The $155 billion
NYSCRF’s new director of private equity will report to CIO Raudline Etienne. Duties will include finding investment opportunities, overseeing due diligence, conducting performance analysis and managing a staff of private equity investment officers. The person will administer relationships with private equity consultants and customized fund-of-fund managers as well as oversee strategic private equity investment programs, including in-state, emerging managers and sustainable investment. The starting salary is $150,000 to $200,000.
Etienne has been providing direct oversight of the private equity program since Smirensky’s departure. The LP does not have a set time frame for wrapping up the search. “Finding the right person is paramount, and we will take the time we need to make sure we find the right fit,” said Jim Fuchs, spokesperson.
The private equity portfolio has assets of roughly $10 billion, about one-third of which is committed to 10 captive funds-of-funds, making it one of the biggest backers of such programs in the country. Managers in the captive program include
Private equity commitments made in 2008 include