Greg Ruiz, managing investment director for private equity at CalPERS, will be leaving and Anton Orlich will be joining the $426 billion pension plan in the new position of managing investment director for growth and innovation, both in November, a CalPERS news release said.
Mr. Ruiz in January will be joining discretionary asset manager Jasper Ridge Partners as a partner in its private equity practice, a new position, a spokeswoman said in an email. During his three-year tenure at the California Public Employees' Retirement System, Mr. Ruiz helped increase private equity capital commitments by close to 300%, a Jasper Ridge news release shows. CalPERS had $52.8 billion in private equity as of June 30, up from $26.5 billion as of July 31, 2019, the year Mr. Ruiz joined CalPERS.
CalPERS will be launching a search for a new managing investment director for private equity, said Brad Pacheco, deputy executive officer, in an email.
In his new role, Mr. Orlich will focus on making higher growth, higher risk and reward investments including in growth equity and investment strategies that do not fit within traditional asset classes. He will also be a member of the pension plan's investment office executive team, which is responsible for the portfolio's investment performance and risk management.
Mr. Orlich had been head of alternative investments at $163 billion Kaiser Permanente, where he grew the alternatives allocation to over 50% from 15% for a portfolio over $100 billion, the CalPERS news release said. Kaiser Permanente could not be immediately reached for information on Mr. Orlich's replacement.