New York State Teachers’ loses private equity co-manager: CORRECTED

Sean Holland, co-manager of private equity at the New York State Teachers’ Retirement System, has left the pension fund, John Cardillo, spokesman for the pension system, confirmed for peHUB Friday.

It is not exactly clear when Holland left NYSTRS, but his LinkedIn profile shows he worked at the system from 2011 until 2014. It also is unclear if Holland has moved to a new job. Holland could not be reached for comment.

Holland’s position has not yet been filled, Cardillo said.

Holland managed international private equity, venture capital and special situations, secondaries, mezzanine and direct investments, according to his profile. He co-managed the private equity program along with Gerald Yahoudy.

Prior to New York State Teachers’, Holland worked as a managing director at the business development company Hercules Technology Growth Capital from 2008 to 2010. He spent about a year as a director in private equity at MetLife from 2006 to 2007, about a year as a portfolio manager at Goldman Sachs in the specialty lending group from 2005 to 2006 and four years as a director in venture finance at ORIX, according to his profile.

NYSTRS lost another private equity investment professional earlier this year. In February, Joseph Rest, a former private equity investment officer with the Teachers’ pension system, joined the private equity team at the New York State Common Retirement Fund, according to Matthew Sweeney, a spokesman at New York Common.

Rest joined New York Common as an investment officer focusing on private equity fund due diligence and monitoring, according to his LinkedIn profile.

New York Common’s private equity team is made up of seven people. The private equity team is led by John Virtanen.

However, the Teachers’ retirement system promoted private equity investment officer Laura Hotaling to the vacant position of assistant manager of private equity, Cardillo said.

Hotaling is not directly replacing anyone in the role as it has been vacant for some time, Cardillo said. New York State Teachers’ private equity team has seven members.

New York Teachers’ private equity portfolio was valued at about $7.4 billion as of Sept. 30, with commitments to 168 limited partnerships managed by 70 buyout and venture capital firms, peHUB reported earlier this year.

Photo courtesy of Shutterstock.

Correction: The original story incorrectly stated John Virtanen led the private equity team at New York State Common Retirement Fund. He leads the private equity team at New York State Teachers’ Retirement System. The report has been updated.