“Nicole’s experience, vision and skill as an investor in public and private markets is critical for CalPERS,” Frost said in a statement. “We were determined to take our time to ensure we found the right candidate who could succeed in a high-pressure and demanding environment.”
Mark Wiseman, chair of the Alberta Investment Management Corporation and former chief executive of the Canada Pension Plan Investment Board, who worked with Musicco at Teachers early in her career, said landing such a job following a broad global search is an impressive feat. As part of its strategy to narrow the funding gap, the CalPERS fund adopted a new asset allocation mix late last year that calls for increasing its private equity investments to 13 per cent from just eight per cent, with a new private debt allocation of five per cent. In addition, the fund added five per cent leverage to its investment portfolio to increase diversification.Article content
On Tuesday, Bertram told the Financial Post that Musicco “has an excellent investment background, particularly in private equities, is familiar with the strategies employed by Canadian funds, and should prove to be a capable leader at CalPERS.”Article content
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »