CalPERS taps PE expertise from Alaska Permanent

The Sacramento-based California Public Employees’ Retirement System (CalPERS) announced that Yup Kim will join as the $405 billion pension fund’s new investment director in private equity. Kim starts her new role on Monday, leading the $26 billion CalPERS private equity program across all functions including strategy, team management and investment activities across primary, secondary and co-investment opportunities globally. He reports to Greg Ruiz, managing director of private equity. The system has more than 270 funds in the program. So far, this year staffers have added only four new funds to the portfolio. They are: Insight Partners XI, KKR European Fund V, Permira VII and Summit Partners Growth Equity Fund X-A. The commitments total $1.6 billion. Previously, Kim was senior portfolio manager for private equity and special opportunities at the Alaska Permanent Fund in Anchorage. “Yup has been a thought leader in the industry with a unique combination of strategic insight, investing acumen and managerial experience,” Ruiz said. “The evolution of Alaska Permanent’s Private Equity Program stands out for its innovation, thoughtfulness and investment returns.” Prior to joining Alaska Permanent in 2016, Kim held roles at Deutsche Bank Private Equity, Performance Equity, Silver Point Capital and Citigroup. “CalPERS’ Private Equity Program has tremendous potential to generate long-term outperformance across the private markets spectrum,” Kim said. “There are incredible, unearthed competitive advantages at CalPERS that we’ll focus on cultivating and compounding over time to deliver strong results for all our beneficiaries.”

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