Craig Dandurand will join Australia's Future Fund in February as a director on the debt and alternatives investment team, reporting to David George, the team's leader.
Mr. Dandurand's position is new, “part of the natural growth of the team,” said Will Hetherton, a spokesman for the Melbourne-based A$92 billion ($81 billion) fund, in an e-mail.
Mr. Dandurand was a portfolio manager for the $5 billion hedge fund portfolio of the $277.3 billion California Public Employees' Retirement System, Sacramento, until his departure on Dec. 20. Mr. Dandurand spent 13 years at CalPERS.
A search for Mr. Dandurand's replacement will be conducted under California's normal recruitment process, said Joe DeAnda, a CalPERS's spokesman, in an interview.