CalPERS loses senior investment officer

Janine Guillot has stepped down as chief operating investment officer but will remain at the system through the summer.

Janine Guillot stepped down as chief operating investment officer for the California Public Employees’ Retirement System on 24 May, according to a CalPERS spokesperson. Carol Moody, former senior portfolio manager at the pension fund, has already taken over.

Guillot said at the prior investment committee meeting she wanted to take a break from her role as COIO but will be around through the summer to finish her work with the pension, said the spokesperson. She will assess her options at the end of the season.

Guillot was hired as the COIO on 4 March 2010, according to the fund’s website. Since then she has reported to Joseph Dear, chief investment officer, and has implemented strategies for CalPERS’ real estate, alternative investment and public market portfolios. 

Prior to joining the CalPERS team, Guillot worked as the managing director at Barclays Global Investors and chief operating officer for legacy BGI’s $450 million global fixed income business, according to the CalPERS website. 

CalPERS’ $257.4 billion fund allocates $32 billion or 12 percent, to private equity, as of 31 March, according to the fund’s website.  The pension fund plans to allocate 14 percent in the future. 

Earlier this month Private Equity International reported CalPERS’ plans to sell its entire ownership in The Carlyle Group. The pension fund plans to exit its investment in the fund manager through a secondary offering of about 11 million shares, including the option to increase the total to 12.7 million shares, sold by CalPERS. Earlier this year, Dear told PEI that CalPERS has no intention to pull back from private equity, despite changing climates. “It’s necessary to achieve our return objectives,” he said.