Randall Mullan today was named senior portfolio manager for infrastructure investments at the California Public Employees Retirement System, Sacramento, according to a news release.
In this new position, Mr. Mullan will report to Farouki Majeed, senior investment officer for asset allocation. In December, the $233 billion pension fund approved investing up to 3% of total assets in infrastructure.
He will join CalPERS on Oct. 14 from the C$85 billion ($82.3 billion) British Columbia Investment Management Corp., Victoria, where he led the development of its infrastructure program. Gwen-Ann Chittenden, BCIMC spokeswoman, could not immediately provide information on Mr. Mullans replacement.
Also today, Dan Bienvenue was promoted to senior portfolio manager at CalPERS, responsible for CalPERS $80 billion in internal equity strategies. He was a portfolio manager at the pension fund; he replaces Eric Baggesen, who was named senior investment officer for global equity in May. Mr. Bienvenue reports to Mr. Baggesen.
Clark McKinley, spokesman for CalPERS, could not immediately say whether Mr. Bienvenue will be replaced.