Asset Owners

Another senior executive leaves University of California investment office

Eduard van Gelderen has left his position as senior managing director at the University of California Regents' office of the chief investment officer, according to a written statement from Jagdeep Singh Bachher, UC's CIO and vice president of investments and vice president of investments.

"Mr. van Gelderen has informed UC that the (Canada's) Public Sector Pension Investment Board has offered him their CIO position and he will be accepting their offer," Mr. Bachher said in the statement.

Mr. van Gelderen could not be reached to confirm the appointment. Maria Constantinescu, spokeswoman for the C$153 billion ($116.8 billion) PSP, Ottawa, declined to comment.

The investment office oversees the Berkeley-based university system's $66.7 billion pension fund and $11.9 billion endowment.

"We are excited that talent from the University of California office of the chief investment officer are attractive to large asset owners in leadership positions," Mr. Bachher said. "At UC, we are deeply committed to collaboration across the industry, and we look forward to continuing to collaborate with departing staff in their new roles."

Mr. van Gelderen will not be replaced, Mr. Bachher said. "His responsibilities will be assumed by internal teams," he said.

This is the third departure in the past two months. Tom Fischer, former investment officer on the real estate team at University of California Regents, left on July 13. Scott Chan, former senior managing director of the University of California Regents, will join the $224.9 billion California State Teachers' Retirement System, West Sacramento, as deputy CIO on Aug. 1.