The California Public Employees’ Retirement System (CalPERS) today announced the appointment of Réal Desrochers as Senior Investment Officer for the pension fund’s private equity program.
Desrochers will be responsible for managing a globally diversified portfolio of private equity investments representing approximately $49 billion of committed capital, $33 billion of which is invested in the funds of partners of the Alternative Investment Management (AIM) program.
He will also oversee CalPERS private equity investment team and external advisors to ensure that the pension fund’s investment strategies, policies and new initiatives are executed effectively. He will report to CalPERS Chief Investment Officer Joseph Dear.
“I’m extremely confident in Réal Desrochers and his skills leading our team of investment professionals,” said Dear. “He did a fine job in overseeing the private equity program of our sister fund, the California State Teachers’ Retirement System (CalSTRS), generating annual returns of more than 17 percent in the decade that he was there. He also worked for Caisse de Depot of Quebec, Canada’s largest pension plan for more than 11 years before joining CalSTRS. Our AIM Program is in good hands and will suffer no interruption in its investment plan or Board policy."
Desrochers left CalSTRS in 2009. He has advised Blackstone Capital, J.H. Whitney, Texas Pacific Group, Permira, and China Renaissance Industries. Prior to joining CalPERS, he was the Chief Investment Officer of Saudi Arabian Investment Company. Desrochers earned an MBA degree at Laval University in Canada. He is a Fellow of the Royal Society of Arts in London.
CalPERS is the nation’s largest public pension fund with approximately $236 billion in market assets, providing retirement benefits to more than 1.6 million State, public school, and local public agency employees, retirees, and their families, and health benefits to over 1.3 million members. The average CalPERS pension is $2,220 per month. For more information about CalPERS, visit www.calpers.ca.gov.
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CalPERS Names Réal Desrochers Senior Investment Officer Of The Private Equity Program
Date 31/05/2011