NY Teachers’ Pension Hires New Private Equity Head

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The New York State Teachers’ Retirement System has hired a new private equity chief – Gerald Yahoudy – after the retirement of John Virtanen last month.

Yahoudy has been with the pension fund for 13 years, and has been in the private equity department for five. He’ll now have the reins over the fund’s entire $8 billion PE portfolio.

More from the Wall Street Journal:

The New York State Teachers’ Retirement System picked Gerald Yahoudy as the new head of its private equity portfolio, choosing a familiar face to lead the program.

Mr. Yahoudy has been at the system for about 12 years and a manager on the private equity team since 2010.

[…]

U.S. state pension funds, unable to match Wall Street pay and working under public scrutiny, are vulnerable to churn. Sean Holland, who previously co-managed the New York State Teachers’ private equity program, left the pension fund in 2014.

New York State Teachers’ had 7.3% of its pension fund assets parked in private equity as of June 30, slightly above its goal of 7%. The pension fund has latitude to bring its private equity footprint to 12% of the portfolio.

[…]

Mr. Yahoudy did auditing and accounting for institutions including New York State Department of Tax and Financeas well as Commercial Travelers Mutual Insurance Co. before joining the pension system in 2003.

The New York State Teachers’ Retirement System manages $109 billion in assets.

 

Photo by Tim (Timothy) Pearce via Flickr CC License

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