A months-long search has ended as the San Diego County Employee Retirement Association (SDCERA) has hired a new chief investment officer, according to a report from Pensions & Investments. This time around, the CIO is a single person, as opposed to a firm. In November, SDCERA voted to terminate its-then CIO, Salient Partners. (The firm … Continue reading San Diego Pension Taps New CIO After Long Search
Samantha Begovich, a trustee for the San Diego County Employees Retirement Association (SDCERA), has penned a column in an area newspaper decrying the fund’s outsourced CIO, Salient Partners, and its investment strategy. The fund voted last year to move on from Salient Partners and hire an in-house CIO after critics called Salient’s investment strategy too … Continue reading San Diego County Pension Trustee Decries Investment Strategy, CIO in Newspaper
Trustees of the San Diego County Employees Retirement Association (SDCERA) voted in November to fire the firm acting as its outsourced CIO, Salient Partners, and hire an in-house official. The pension fund could make that hire by March. But trustees learned this week that Salient Partners could retain its asset management duties until November 2015. … Continue reading Fired CIO of San Diego Pension May Retain Role Until Nearly 2016
The board of the San Diego County Employees Retirement Association (SDCERA) heard plans to begin recruiting a new chief investment officer in 2015 – including job postings and coming up with a pool of candidates. Previously, it had only been decided that the fund would move on from current-CIO Salient Partners, and a general salary … Continue reading San Diego Pension to Begin Recruiting New CIO In 2015, But Board Worried Internal Clashes Could Scare Candidates Away
The Board of the San Diego County Employees Retirement Association (SDCERA) moved closer on Thursday to firing Salient Partners, the firm that acts as the pension fund’s chief investment officer. Board members indicated that the firing was all but official, but that the transition to a new CIO still needs to be worked out. From … Continue reading San Diego Pension Begins Transition To In-House CIO
The San Diego County Employees Retirement Association formally voted on Friday to begin searching for an in-house chief investment officer to replace Salient Partners, the firm currently serving as the fund’s outsourced CIO. The board also made several changes in governance structure. From the San Diego Union-Tribune: Near the end of a two-day board retreat … Continue reading San Diego Pension Board Votes to Move CIO In-House; Approves Other Governance Changes
The San Diego County Employees Retirement Association (SDCERA) is on the verge of firing its controversial outsourced CIO, Lee Partridge of Salient Partners. Board members held a mock vote on the issue, and the firing was “approved” 7-0. If Salient Partners is indeed fired, the SDCERA would move its investment management in-house. More on the … Continue reading San Diego Pension Close to Firing Outsourced CIO, Bringing Investment Management In-House
The San Diego County Employees Retirement Association (SDCERA) board voted last week to retain its controversial chief investment officer, Lee Partridge, and his firm, Salient Partners. The vote was 5 to 4, and trustees on both sides of the vote were adamant about their position. But did one trustee go to0 far while lobbying to … Continue reading San Diego Fund Trustee May Have Breached Code of Ethics While Lobbying For CIO
The San Diego County Employees Retirement System (SDCERS) voted 5-4 last week to retain its controversial CIO, Lee Partridge. The vote was close, and nearly every trustee had something to say about the decision. From Bloomberg: “All the sudden we found out we have $22 billion in exposure,” [trustee Dianne] Jacob said by telephone prior … Continue reading San Diego Pension Trustees React To Retainment of Controversial CIO
After a “tense” five-hour deliberation, the Board of the San Diego County Employees Retirement Association (SDCERA) voted 5-4 to retain its outsourced chief investment officer. The pension fund and its CIO, Lee Partridge, have made headlines in recent months due to their high tolerance for risk and extensive use of leverage. From Chief Investment Officer … Continue reading San Diego Fund Votes 5-4 To Retain Controversial CIO
