Jonathan Grabel, former chief investment officer of The Public Employees Retirement Association (PERA) of New Mexico, will join the $50 billion Los Angeles County Employees' Retirement Association (LACERA) as chief investment officer, effective April 17, Pensions & Investments reported.
The appointment ended LACERA’s nearly two-year search since its former chief investment officer David Kushner resigned in May 2015 for undisclosed reasons.
Grabel resigned from the $14.7 billion New Mexico PERA on March 31 after three years of service. Deputy chief investment officer Jude Perez took over the position as interim chief investment officer, while the pension actively looks for Grabel’s permanent replacement.
(Grabel was named on Trusted Insight's Top 30 Pension Chief Investment Officers. Read his exclusive interview here. Perez was named on Trusted Insight’s 2016 Top 30 Future Chief Investment Officers At Pension Funds. Read his exclusive interview here.)