NYSTRS appoints new PE head

Gerald Yahoudy takes over from retiring managing director of private equity John Virtanen.

The New York State Teachers’ Retirement System has promoted Gerald Yahoudy as its new managing director of private equity, according to a statement.

Yahoudy will succeed John Virtanen, who retired from NYSTRS in July. Virtanen worked at the pension system for 38 years, the last two as head of private equity.

In his new role Yahoudy will manage the pension fund's $8 billion, 16-year old private equity program, which has $17.4 billion in commitments with 83 financial sponsors. Private equity accounts for 7.3 percent of NYSTRS portfolio through 30 June. NYSTRS has $108 billion of assets.

Its PE investments represent a wide range of exposure to different strategies including buyout, venture capital, co-investment, debt, fund of funds, secondary and other asset classes.

Yahoudy was previously manager of private equity for five years, and NYSTRS does not intend to fill that post, according to a spokesperson.

Yahoudy has worked at the New York retirement system for 12 years and held positions as assistant manager of private equity, associate investment officer, and senior accountant at NYSTRS.