Private equity

NYC comptroller names new head of private equity investments

J. David Enriquez has been promoted to head of private equity at the bureau of asset management, which manages investments for the New York City Retirement Systems.

The promotion takes effect immediately, Scott Stringer, the New York City comptroller, said in a news release Wednesday. Mr. Stringer is the fiduciary of the five pension funds within the $200.2 billion New York City Retirement Systems, of which private equity represents $12.31 billion, or 6.1%.

"David has been a prudent and thoughtful portfolio manager and I know he will continue to be a valued member of the comptroller's office, strengthening the work of the bureau of asset management and protecting the retirement of New York City pensioners," Mr. Stringer said in the news release.

In July, Mr. Enriquez and Gabriel Morrow, then both senior officers for private equity, were appointed interim co-heads of private equity in the bureau of asset management.

Mr. Morrow has since left the comptroller's office, but Tian Weinberg, a spokesman for Mr. Stringer, provided no details on when, why or where he departed.

Ms. Weinberg said the pension system has posted on its website a notice of a search for a senior investment officer to succeed Mr. Enriquez. Ms. Weinberg said the comptroller's office is still deciding whether to seek a replacement for Mr. Morrow or to apportion his duties among other members of the bureau.

Mr. Morrow and Mr. Enriquez were promoted to co-heads of private equity when Alex Done, who had been deputy CIO for private markets, was named interim CIO of the pension system in June. He replaced Scott Evans.

Mr. Done remains interim CIO while the pension system searches for a permanent CIO.