24.3 C
New York
Tuesday, May 18, 2021

CalPERS’ new venture capitalist probably should have a private equity term in his name

- Advertisement -
- Advertisement -

When CalPERS’ top investment executive Dick Luskin leaves on Saturday, at least one of his remaining top deputies may soon have a title that jibes with his role: Private Equity.

Bill Mills is going to be managing general partner of Vanguard Venture Capital Group, a senior vice president at CalPERS said on Friday, and soon the conversation will shift to what the name change says about the fund-of-funds office that Mr. Mills is heading.

CalPERS’ large investment portfolio relies heavily on private equity and real estate, and some in the sector have proposed that private equity become its own asset class within the fund-of-funds arena. Mr. Mills will help set the table.

CalPERS, California’s pension fund, invests $209 billion in global markets and managed a similar figure internally as well as externally, covering a broad swath of asset classes such as fixed income, real estate, private equity and hedge funds. Mr. Mills also heads up the fund’s external search and portfolio advisory activities, which oversees searches for external asset managers and hires within CalPERS for $160 billion in fixed income and $30 billion in stocks.

Read the full story at The Hill.

Related

CNBC considering selling Cara Delevingne interview, bidding on pics from Rihanna and CalPERS’ new furniture fundraiser

Karlie Kloss bought a stake in a private equity firm and now has a luxury Fendi bag for her model co-workers

On his last day as a top aide to a powerful Republican, Greg Gianforte was charged with assaulting a reporter

- Advertisement -

Latest news

Dozens of missiles fired at Gaza in new wave of violence

Gaza: Amid concerns that an attack on the enclave would lead to prolonged bloodletting, Israel is using tanks, artillery and attack helicopters to attack...
- Advertisement -

In Congress, Democrats Press On With Proposal for Russian Election Probe

At an empty U.S. Capitol, a starkly different world, Democrats on Wednesday night pressed forward with a bipartisan proposal to create a task force...

Curtis Fuller, Tenor Saxophonist and Spiritual Voice, Dies at 88

Curtis Fuller, the towering tenor saxophonist who fused deep spiritual wisdom and an artful, rhythmic technique into his work, has died, his friend and...

See Who Re-Released Nicki Minaj’s New Songs in 2018

Nicki Minaj is back with another batch of new music, and it includes a collection of songs with Lil Wayne and Drake. Check out...

Related news

Dozens of missiles fired at Gaza in new wave of violence

Gaza: Amid concerns that an attack on the enclave would lead to prolonged bloodletting, Israel is using tanks, artillery and attack helicopters to attack...

In Congress, Democrats Press On With Proposal for Russian Election Probe

At an empty U.S. Capitol, a starkly different world, Democrats on Wednesday night pressed forward with a bipartisan proposal to create a task force...

Curtis Fuller, Tenor Saxophonist and Spiritual Voice, Dies at 88

Curtis Fuller, the towering tenor saxophonist who fused deep spiritual wisdom and an artful, rhythmic technique into his work, has died, his friend and...

See Who Re-Released Nicki Minaj’s New Songs in 2018

Nicki Minaj is back with another batch of new music, and it includes a collection of songs with Lil Wayne and Drake. Check out...
- Advertisement -