The firm’s new managing director will focus primarily on sourcing, analyzing and managing private market investments on the West Coast.
The fund has more than $7 billion invested or committed for investment in businesses that are diversified across geographies, sectors and asset classes.
The search is being conducted due to the upcoming contract expiration of incumbent CAPTRUST Financial Advisors.
Incumbent discretionary/outsourced cio Wilshire has underperformed for the one- and five-year periods ending Dec. 31.
The new hire will oversee the firm’s investment activities alongside Co-CIO and Vice Chair Pablo Calderini.
The director will lead the public markets manager research team and oversee the investment process.
Historic market concentration within the Standard & Poor’s 500 Index has led to a resurgence in active domestic large-cap core equity investing among institutional investors.
The retirement system saw its executive director resign on Jan. 31.