Joncarlo Mark Resigns From CalPERS: CORRECTED/UPDATED

(UPDATE: CalPERS chief spokesman Clark McKinley has confirmed that alternatives manager Joncarlo Mark, who has been at the pension fund since 1999, has resigned from CalPERS staff, effective March 31.)

The chief spokesman of CalPERS, the giant $228 billion California pension fund, countered a recent media report that said the fund’s de facto alternatives manager, Joncarlo Mark, had resigned. (CORRECTED: The chief spokesman of CalPERS
now confirms that Mark resigned.)

According to the chief spokesman, Mark is still working for CalPERS and very much still in the running for the senior investment officer role that is responsible for managing the state’s $30 billion worth of private equity and alternative investments. McKinley said the pension expected to finish the search in the next few weeks. (CORRECTED: McKinley is not commenting on whether Mark is in the running, but that now appears unlikely now that Mark has announced he will step down from CalPERS.)

As senior investment officer, Mark has been helping manage the alternative portfolio since August, when Leon Shahinian stepped down after being mentioned in a state-level fraud lawsuit against former CalPERS chief Fred Buenrostro.

(CORRECTION: The headline that appeared on the original version of this story was changed to reflect news that Joncarlo Mark has resigned. The original headline said that Mark was still in the running for the senior investment role, which now appears unlikely.)