CalPERS appoints acting senior investment officer of real assets

The California Public Employees’ Retirement System has named Tom McDonagh acting senior investment officer for real assets, effective April 1, 2014. McDonagh will take over the position vacated by Ted Eliopoulos, who has been named interim chief investment officer upon the passing of Joe Dear, CalPERS chief investment officer. McDonagh is currently a senior portfolio manager in the global fixed income asset class.

Reuters – Apollo Investors and Founders to Sell Shares

Apollo Global Management‘s cornerstone investors and two of its founders are selling a slice of their shares, writes Reuters. Cornerstone investors Abu Dhabi Investment Authority and California Public Employees’ Retirement System, which invested a combined $1.2 billion in Apollo in 2007, have each registered to sell stakes currently worth up to $203.4 million, writes Reuters.

CalPERS Says It Still Supports Emerging Managers

Trying to counter claims aired at a recent state Senate hearing, Joe Dear, chief investment officer of the California Public Employees’ Retirement System, wrote a letter to the hearing chairman saying he was “troubled by testimony that questioned our commitment and intentions” with regard to emerging managers – investment firms that are often managed by women and minorities.

TechCore Makes First Investment in San Jose Office Building

Middle market private equity real estate firm GI Partners has acquired a Class A technology headquarters office building in San Jose. The acquisition is the first from TechCore, a $500 million discretionary core real estate fund launched earlier this year and managed by GI Partners on behalf of California Public Employees’ Retirement System.

CalPERS Tells PE Firms to Sing Its Tune on Terms

America’s largest and most influential pension fund has laid down the law on all private equity firms hoping to stay in its good graces or land new commitments. The $235 billion California Pubic Employees Retirement System has told private equity firms that from March 1, 2012 forward, they will have to comply with its new ILPA-style terms on capital calls and distributions. Or else.

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