San Francisco retirement system chooses private markets chief
By Kevin Olsen | January 30, 2013 3:37 pm
Art Wang was named managing director, private markets, at the San Francisco City & County Employees' Retirement System, confirmed Norm Nickens, executive assistant at the $16 billion pension fund.
It is a new position. Mr. Wang will lead the pension fund's investments in private equity, real estate and real assets. The private markets portfolio is currently about $4 billion in assets, with a target allocation of 28% of total assets, Mr. Nickens said in an e-mail.
Mr. Wang will report to Robert Shaw, interim deputy director for investments.
Mr. Wang was most recently director of private equity for the $150.1 billion New York State Common Retirement Fund, Albany, overseeing a $15 billion global private equity portfolio. Those duties are currently being overseen by senior investment officers, and a process is under way to find a new director, spokesman Eric Sumberg said.