NYSTRS on the hunt for assistant PE manager

The pension plan is looking to fill an opening left by Laura Hotaling’s promotion to manager.

The $108 billion New York State Teachers’ Retirement System is on the hunt for a new assistant manager of private equity.

According to a job posting on its website, NYSTRS is offering a salary of between $97,375 and $164,000 for the role, which requires a bachelor’s degree and six years of professional level experience with an investment management organisation, pension consultant or plan sponsor.

The assistant manager will report to both the manager of private equity focused on domestic market and the manager of private equity focused on international.

The position is to fill a role previously held by Laura Hotaling, who was recently promoted to manager of private equity for international, a spokesperson confirmed to Private Equity International on Wednesday. Brad Woolworth, formerly chief investment officer at the Philadelphia Board of Pensions and Retirement, fills the other manager role.

The assistant manager role will participate in all aspects of the group’s activities, including strategic planning, portfolio construction, internal investment committee and board committee meetings, sourcing and screening of investment opportunities, and monitoring active fund investments.

According to the advertisement, NYSTRS private equity portfolio is comprised of 221 limited partnerships and 92 general partners, with $19.5 billion in aggregate commitments.

When the position is filled there will be a total of eight people on the private equity team, including support staff, the spokesperson said. The team is led by Gerald Yahoudy, managing director of private equity.

In its 26 April meeting agenda, NYSTRS revealed commitments of $200 million to KKR Asian Fund III, $200 million to Silver Lake Partners V, and $75 million each to One Rock Capital Partners II and Valor Equity Partners IV.