Sylvester McClearn has been named interim director of the New York State Common Retirement Fund's emerging manager program.
His appointment took effect Feb. 2 for the program, which has approximately $9.5 billion in assets under management, according to Mark Johnson, a spokesman for Thomas P. DiNapoli, the state comptroller and sole trustee of the $233.2 billion pension fund, Albany.
Mr. Johnson declined to discuss whether the pension fund will conduct a search for a permanent director or whether Mr. McClearn will continue in role as senior investment officer. Mr. McClearn has held that job since joining the pension fund in 2020.
"Further recruitment efforts are being reviewed and discussed," Mr. Johnson wrote in an email.
The program invests with emerging managers directly, "or with the assistance of other managers and program partners in separately managed accounts or commingled funds," said a Wednesday news release announcing Mr. McClearn's promotion.
"Program partners assist in the timely deployment of capital, perform due diligence and recommend managers to participate in the program," the news release said.
Mr. McClearn succeeds Anyori Hernandez, who will become the president and CEO of the non-profit New America Alliance. Mr. Hernandez will be succeeding Solange Fernández Brooks.