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August People Moves: Pensions Lose Leaders; Ex-French Prime Minister Enters Private Equity

by trusted insight posted 4years ago 2090 views

In August, two pension funds lost senior investment professionals, several board appointments were announced and high-profile individuals joined brand-name asset managers. Here are the top institutional investment moves in August:

Asset Allocators:
Michelle Cunningham, deputy chief investment officer for the California State Teachers’ Retirement System, announced her retirement Aug. 3, 2017. Cunningham was hired in 1991 as the first internal investment officer at the then $35 billion pension fund. Her investment career spans 35 years, of which 27 years were with CalSTRS, which now manages $208.7 billion, as of Jun. 30, 2017. Her replacement has not been named.

Two leaders of Kern County Employees Retirement Association are departing the investment agency. Gloria Dominguez, executive director, will retire on Oct. 27, 2017. Peter Tirp, chief investment officer of the $3.9 billion pension fund, resigned effective Aug. 14, 2017. During Tirp’s nearly six-year tenure as chief investment officer, the fund outperformed it’s one-, three- and five-year benchmarks. Existing external consultants will assist the pension with its investments until a replacement is found, according to the agency.

Koh Boon Hwee was appointed to GIC’s board of directors effective Aug.14, 2017. Koh was a member of the sovereign wealth fund’s investment board since January 2016.

Ravindra Deo, chief investment officer of the Federal Retirement Thrift Investment Board, was named executive director of the agency, which administers the $505.2 billion Thrift Savings Plan. Deo was the acting executive director since May and assumed the new role effective Aug. 6, 2017. Deo’s promotion won unanimous approval from the pension fund’s board.

Asset Managers:
Mamoon Hamid, co-founder of Social Capital, moved to Kleiner Perkins Caufield & Byers as a general partner and managing member on Aug. 3, 2017. He will focus on early-stage tech investments.

Francois Fillon, former French prime minister, will join private equity firm Tikehau Capital as a partner on September 1, 2017. Fillon’s “international experience combined with his in-depth knowledge of French and European economic issues will bring real added value to Tikehau Capital,” reads the company’s press release.

View Trusted Insight's people moves roundups from previous months here.