Calpers, the biggest US general public pension prepare, has appointed a Canadian fund manager as its new main investment officer practically 18 months after the abrupt departure of its former CIO.
The $478bn California Public Employees’ Retirement Technique mentioned Nicole Musicco, a non-public marketplaces professional, would get more than the substantial-profile position. Musicco will triumph Dan Bienvenue, who experienced assumed the purpose of interim CIO in August 2020 after Ben Meng resigned from the submit.
Musicco’s appointment arrives as Calpers, which has 2mn users, embarks on strategies to boost exposure to private markets towards a backdrop of anticipated dimming returns