New York State Common Retirement Fund related stories
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- MassPRIM Loses Second PE Manager
The exodus continues on MassPRIM’s private equity team. Less than two months after the departure of Wayne Smith, Massachusetts Pension Reserves Investment Management http://www.mapension.com/default.asp ’s private equity chief, the pension’s second-most-senior private equity manager, Senior Investment Officer Michael Langdon, also said that he was planning to leave. Langdon’s last day at MassPRIM is set for be Oct. 14, when he will join London-based Hermes Global Private Equity http://www.hermesgpe.com/ and help establish the firm’s Boston office. Hermes manages $7 billion in private assets, including $1 billion in the U.S. A spokeswoman for the $41 billion pension, Alethea Harney, said the timing of the two departures was an “unfortunate coincidence” and that the two departures “were not related in any way.”
- NY State Common Loses CIO, While Maryland Names a New One
The revolving door keeps spinning for the nation’s public pension chief investment officers. The $147 billion New York State Common Retirement Fund http://www.osc.state.ny.us/pension/snapshot.htm will lose its CIO, Raudline Etienne, to the private sector, where she will join the Albright Stonebridge http://www.albrightstonebridge.com/ Group as a senior director. The Albright Stonebridge Group is a consulting firm co-founded in 2001 by President Clinton’s former secretary of state, Madeleine Albright, former National Security Advisor Sandy Berger and former Sen. Warren Rudman. Eric Sumberg, a spokesman for New York State Comptroller Thomas DiNapoli, said "we wish her all the best in her new role." The comptroller's office, which oversees the fund, plans immediately to start searching for a replacement. The New York State Common Retirement Fund is the nation’s fourth-largest public pension fund.
