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Ex-Philadelphia pension CIO joins NYSTRS private equity team

  • Woolworth joined NYSTRS in April
  • Title is manager of private equity
  • Had run PE in Philadelphia

Brad Woolworth, former chief investment officer of Philadelphia Board of Pensions and Retirement, is now working on private equity at New York State Teachers’ Retirement System.

Woolworth joined New York State Teachers’ in April as manager of private equity, NYSTRS spokesman John Cardillo said. It’s unclear whether he succeeded anyone. The system didn’t publicize the hiring and Woolworth’s LinkedIn profile has not been updated.

Woolworth resigned from the Philadelphia system in April. He spent about a year as CIO in the system, according to his LinkedIn profile.

Prior to that post, Woolworth was head of private markets and real assets for the Philadelphia pension from 2009 to January 2013, his LinkedIn profile said. He was deputy CIO from January 2013 to March 2015, when he ascended to the full CIO role.

Woolworth is no stranger to New York. From 2006 to 2009, he was an investment officer on the PE team for New York State Common Retirement Fund, his LinkedIn profile said. He also was a senior municipal financial analyst for the New York State Comptroller from 2004 to 2006.

Woolworth was succeeded by Michael Donatucci, who started in his role in June, the Philadelphia Inquirer said. Donatucci, 30, died in an apparent suicide earlier this month. It’s unclear whether Philadelphia has begun the process of finding a successor.

NYSTRS valued its private equity portfolio at $7.8 billion as of March 31, its meeting materials show. The portfolio has returned an 11.95 percent internal rate of return and 1.56x multiple since its inception, Buyouts reported.

Action Item: NYSTRS annual report: http://bit.ly/2ams3Ik

A view of City Hall and the Benjamin Franklin Parkway is seen in Philadelphia on February 12, 2015. Photo courtesy Reuters/Charles Mostoller