An investment officer at the California Public Employees’ Retirement System (CalPERS) has resigned on 4 April, according to reports.
Michal Gladys was an investment officer in CalPERS’ alternative investment management division for almost seven years when he decided to quit for other opportunities. On 7 April, CalPERS listed a new job posting for an investment manager position to manage private equity, co-investments and fund of funds partnerships. There are four investment manager positions and one investment director position open at CalPERS, according to the job listings on its website.
Last month, it named Marlene Timberlake D'Adamo of PNC Bank as its new chief compliance officer, as reported by Private Equity International. CalPERS has also been searching for a replacement for its chief executive Anne Stausboll, who announced in January that she will retire in June, as reported by PEI.
CalPERS spokesman Joe DeAnda declined to comment on Gladys' departure but said that all CalPERS positions are filled through the standard state of California recruiting procedures.
While at CalPERS, Gladys sourced, evaluated, recommended and monitored private equity fund investments, direct and co-investments and fund of funds, according to his LinkedIn profile. He monitored over $15 billion of committed capital via 60 funds and sat on boards of directors.
Prior to joining CalPERS, Gladys was a research intern at Oak Value Capital Management, where he evaluated and managed healthcare companies and made recommendations to the investment committee, among other responsibilities.
Earlier in his career, he was a finance manager at Leader Builders Corporation and an audit intern at Deloitte.
CalPERS allocates 9.7 percent to private equity, slightly short of its 10 percent interim target, with $27.2 billion total invested in the asset class, as of 31 January. Its recent private equity fund commitments include $250 million to Carlyle's second US Equity Opportunity Fund and Towerbrook Capital's Structured Opportunities Fund in February, $1 billion to CVC Strategic Opportunities in November, and $500 million to Blackstone Capital Partners VII in May, according to PEI Research & Analytics.