Kenneth Miranda, former director of the International Monetary Fund’s investment office, was appointed chief investment officer at Cornell University, where he will manage the endowment’s $6 billion investment portfolio. He replaces former CIO Albert “AJ” Edwards who stepped down in March. Miranda said he will “look at big changes, big themes, to identify market inefficiencies, growth bottlenecks and forced selling pressure that tend to generate the environment for outsized returns”, as well as focusing on downside protection through “quantitative techniques”.
HENRIK GADE JEPSEN
Henrik Gade Jepsen stepped down from his role as chief investment officer at Danish pension fund ATP after 17 years in the post to become head of asset management in Danske Bank’s wealth management business unit. In his new role Gade Jepsen will manage around DKr690 billion ($104 billion; €93 billion) of client funds. At ATP he was replaced by Kasper Ahrndt Lorenzen, who was previously senior vice-president and head of liquid markets in ATP’s investment division.
AXA INVESTMENT MANAGERS — REAL ASSETS
Ruulke Bagijn stepped down from her role as chief investment officer for private markets at Dutch pension fund manager PGGM to become global head of real assets private equity at AXA Investment Managers — Real Assets. Bagijn, who joined PGGM in 2009 as head of the private equity team, was appointed CIO for private markets in 2012. In March Private Equity International named her Private Equity Game Changer of the Year 2015 in its annual awards for her contribution to the private equity industry.
BJARNE GRAVEN LARSEN
ONTARIO TEACHERS’ PENSION PLAN
Bjarne Graven Larsen, a veteran investment professional who was formerly chief investment officer of Danish pension giant ATP, was appointed executive president and CIO at the Ontario Teachers’ Pension Plan. Graven Larsen joined the pension fund from Copenhagen-based Novo A/S, where he was serving as chief financial officer. At OTPP, which managed $171.4 billion net assets as of 31 December 2015 on behalf of 311,000 working and retired teachers, Graven Larsen will head the senior investment leadership team.
YONG CHEEN CHOO
GOVERNMENT INVESTMENT CORPORATION
Yong Cheen Choo was appointed chief investment officer for private equity at Singapore’s Government Investment Corporation, a newly-created role at the firm. Choo has been global head of direct investments for private equity since January 2016, having joined the private equity group in 2011. He previously led GIC’s direct and fund investments for private equity in Europe, and before that led direct and fund investments in Asia. His latest appointment came among a raft of promotions in GIC’s senior investment team.