CalPERS, the California Public Employees' Retirement System, has named a new chief investment officer to lead its investment office. Michael Cohen was appointed chief operating investment officer in December 2023, where he's responsible for overseeing investment office operations and implementing the organization's investment strategy. Cohen brings years of experience in the financial industry, having previously served in various leadership roles at top investment firms.
"It would be irresponsible for us to ignore factors that can fundamentally impact the long-term viability of investments," said CalPERS in a statement announcing Cohen's appointment. The pension fund, which manages over $490 billion in assets, is known for its commitment to sustainable and responsible investment practices. Cohen is expected to continue this focus on environmental, social, and governance (ESG) factors in his new role.
CalPERS Names Stephen Gilmore as New CIO. The new investment chief is CIO of the Guardians of New Zealand Superannuation and is expected to bring fresh perspectives to CalPERS' investment strategy. Gilmore has a strong track record in managing large investment portfolios and is known for his innovative approach to asset allocation and risk management.
During his testimony in congress, the interim chief investment officer for Calpers was grilled by Matt Gaetz over the companies DEI policy. The new CIO will be tasked with addressing these concerns and ensuring that CalPERS remains a leader in responsible investing.
California's state retiree pension fund has appointed a new chief investment officer. Following a worldwide search, the fund announced that Cohen would be taking on the role, bringing with him a wealth of experience and expertise in investment management. Cohen's appointment is seen as a positive step for CalPERS as it looks to navigate the complex and ever-changing investment landscape.
The short list of candidates to run the California Public Employees' Retirement System's roughly $490 billion portfolio includes Jonathan Grabel, a seasoned investment professional with a proven track record of success. Grabel's experience and knowledge of the financial markets make him a strong contender for the CIO position at CalPERS.
Gilmore has spent the last five years as CIO of NZ Super Fund, which is owned by the New Zealand government and valued at more than NZ$73 billion. His experience in managing a large sovereign wealth fund will be valuable as CalPERS looks to optimize its investment portfolio and generate strong returns for its members.
California Public Employees' Retirement System has appointed a new chief investment officer to lead its investment office. The CIO plays a crucial role in overseeing the fund's investment strategy and ensuring that it aligns with the organization's long-term goals and objectives.
CalPERS Deputy Chief Investment Officer Dan Bienvenue will serve as interim chief investment officer. Bienvenue joined CalPERS in 2004 and has a deep understanding of the fund's investment philosophy and practices. His appointment as interim CIO will provide continuity and stability during the transition period.
