Pension Funds

CalPERS appoints first sustainable investment managing investment director

Beth Richtman was named the first managing investment director of the sustainable investment program at CalPERS, said Megan White, spokeswoman.

Ms. Richtman is currently an investment manager for the real assets program at the $349 billion California Public Employees' Retirement System, Sacramento. She will be moving to the new position over the next month, leading the team that provides centralized leadership and strategy on environmental, social and governance issues.

She has been responsible for managing a more than $7 billion portfolio of domestic infrastructure and real estate assets. She was a key architect of the sustainable investment practice guidelines for real assets, and led an initiative to optimize energy use and sourcing across CalPERS' $30.7 billion real estate portfolio.

Her current responsibilities will be absorbed by other team members until her position is filled, Ms. White said.