Yup Kim was named investment director of private equity at CalPERS, a news release said Thursday.
He will replace Sarah Corr, who was promoted to managing investment director, real assets, in June, said CalPERS spokeswoman Megan White.
Mr. Kim will join the $411.5 billion California Public Employees' Retirement System, Sacramento, on Sept. 28 and will help lead the CalPERS private equity program "across all functions, including strategy, team management, and investment activities for primary, secondary, and co-investment opportunities globally," said a news release Thursday.
He will report to Greg Ruiz, managing investment director of private equity for CalPERS.
Mr. Kim was previously senior portfolio manager, private equity and special opportunities, at the $65.4 billion Alaska Permanent Fund Corp., Juneau. APFC spokeswoman Paulyn Swanson could not be immediately reached for further information.
As of Aug. 31, CalPERS’ actual allocation to private equity was 6.3%.