CalSTRS narrowed its search for a new chief investment officer to three candidates; interviews with finalists are slated for Sept. 6, and a decision is expected shortly thereafter. Christopher Ailman, CIO of the $59 billion Washington State Investment Board, Olympia, and Phil Archibeck, state investment officer of the $12.5 billion New Mexico State Permanent Fund, Santa Fe, are front-runners for the job at the $113 billion California State Teachers Retirement System, Sacramento.
Some sources believe Richard Hayes, head of private equities and a senior principal investment officer at the $172 billion California Public Employees Retirement System, Sacramento, made it at least as far as the semi-finalist round. Mr. Hayes did not return phone calls seeking comment.
Mr. Ailman declined to comment, although previously he had acknowledged that he had been in the running for the CIO slot at CalPERS. Mr. Archibeck confirmed that he is a candidate for the CalSTRS job. He has been with the New Mexico permanent fund for 14 years.