Mark Anson will join Oak Hill Investment Management Group as managing partner and chief investment officer, a new position at the firm, he said today in an interview.
“I've known them for a long time and committed capital to an Oak Hill private equity fund when I was at CalPERS,” said Mr. Anson, who left the $205.8 billion California Public Employees' Retirement System, Sacramento, where he was CIO, in 2005.
“We have had conversations over the years about me joining them.” And now “the time feels right to join,” he added.
“There was no specific catalyst at Nuveen” prompting him to leave, Mr. Anson said.
“I wanted to get back to managing money day to day … for clients,” Mr. Anson said. “It's what I am good at and what I enjoy.”
Mr. Anson's last day at Nuveen Investments will be April 5, and he will start at Oak Hill the next day, he said.
Mr. Anson will become the fifth managing partner and chairman of the investment committee, which is a new position, said Allyson Kaufman, Oak Hill vice president. “Mark Anson and the other managing partners will work collaboratively,” she said. “We felt his experience at Nuveen and CalPERS in traditional and alternatives investments would be a get fit for what we do.”
Oak Hill has $12 billion in assets under management, roughly half from pension funds, sovereign wealth funds, other institutional investors and half from high-net-worth individuals, said Ms. Kaufman. It invests primarily using a manager-of-managers structure in private equity, hedge funds, real estate, commodities and farmland, as well as traditional equity and fixed income, she said.
Nuveen, which has $145 billion in assets under management, won't replace Mr. Anson, said Kathleen Cardoza, Nuveen vice president-communications. The team in place, led by Margo L. Cook, executive vice president-investment services and development and oversight, will take up his duties.