The California Public Employees’ Retirement System (CalPERS) has appointed Randall Mullan as Senior Portfolio Manager for infrastructure investments and promoted Dan Bienvenue to Senior Portfolio Manager, Global Equity.
Mullan is scheduled to join CalPERS on October 14 from the British Columbia Investment Management Corporation (BCIMC), where he led development of the BCIMC infrastructure program, including direct and fund investments.
“Randall brings over 20 years’ business experience to our new infrastructure team,” said Anne Stausboll, Interim CalPERS Chief Investment Officer. “He also has the kind of experience that will help us develop a strong global program in the future.”
CalPERS has earmarked up to 3 percent of its total market assets to infrastructure through the year 2010, and is exploring investment opportunities in both public and private infrastructure including transportation, ports, energy, water, and communications.
Mullan has eight years’ experience in private equity and infrastructure with BCIMC. He was the Head of Private Placements at BCIMC since 2003 and worked earlier at the British Columbia Hydro (Powerex) as Risk Management Consultant and with the Treasury of the Province of British Columbia. He has an M.A. in economics from Simon Fraser University and a B.A. from the University of Winnipeg.
He will report to Farouki Majeed, Senior Investment Officer of CalPERS Asset Allocation and the Inflation-Linked Asset Class, which includes infrastructure.
In the Global Equity program, new Senior Portfolio Manager Dan Bienvenue reports to Senior Investment Officer Eric Baggesen. Bienvenue is responsible for implementing and directing Global Equity’s internally managed portfolios, including the Wilshire 2500 Equity Index Fund, International FTSE Index Fund, S&P 500 Funds, Dynamic Completion Fund, REIT portfolios, and an internal equity enhanced portfolio.
Bienvenue has served as Portfolio Manager responsible for Portfolio Management and Trading of the pension fund’s internally-managed global equity mandates. Prior to joining CalPERS, he was a Principal and Senior Portfolio Manager with Barclays Global Investors, leading an international equity portfolio management team responsible for $55 billion across developed and emerging markets.
“We are very pleased with Dan’s work for CalPERS and confident that he will do a superb job for us in his new position,” Stausboll said. “His broad experience will serve us well as we continue to develop our promising internal equity management team.”
CalPERS is the nation’s largest public pension fund with approximately $223 billion in assets. It provides health and retirement benefits to nearly 1.6 million public employees, retirees and their families. For more on CalPERS, visit www.calpers.ca.gov.
