Marcie Frost, CEO, CalPERS, “A Role Model for the Investment Community”
Release Date: 10/25/2023
AAAIM High ELI
Our guest for today’s podcast is Glenn Hosokawa, Director of Fixed Income at CalSTRS. After over 25 years serving CalSTRS, Glenn will be retiring at the end of August 2024 and riding off into the sunset. If you google or search for Glenn’s biography, you won’t be able to find anything. I tried. Glenn is as old school as they come and doesn’t have a social media profile. For those that know Glenn, he is credited for building a world class Fixed Income investment division at one of the most admired places to work. Glenn isn’t looking for any...
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Our guest for today’s podcast is Gino Reina, Principal at SECOR Asset Management. Gino is a portfolio manager and member of the client advisory team at SECOR, responsible for client relationship management and business development. Gino has over 20 years of investment management industry experience, including time at Segal Advisors as Director of Research, UBS Paine Webber, and Neuberger Berman as a portfolio manager on the mutual fund wrap platform. Gino holds a Bachelors of Business Administration (BBA) in Banking and Finance from Hofstra University. In addition, he is a member...
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Our guest for today’s podcast is Bordon Lai, Managing Director at Beach Point Capital Management. Bordon joined Beach Point in 2021 to help build out the firm’s private equity and special situation investing capabilities. Bordon has been in the industry for over 20 years and was previously at Quilvest Private Equity, a global multi-family office with $5B of AUM. Prior to Quilvest, Bordon worked at Pegasus Capital Advisors and Vision Capital, where he invested under a flexible mandate in opportunistic investments in the middle market. Bordon started out his career as an...
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Our guest for today’s podcast is Ingrid Yin, Co-Founder, Managing Partner and Majority Owner of MayTech Global Investments, a New York–based firm that specializes in managing global growth portfolios. Yin started her career as a research scientist and then made a leap to the finance industry, where she worked as an analyst and honed her focus to identifying investment opportunities in Asia and in healthcare. In 2017, with her extensive global investing experience, Yin launched MayTech with her business partner, Nels Wangensteen. The investment team, based in New York City, has been...
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Our guest for today’s podcast is Pam Chan, Managing Partner and Chief Investment Officer of Mosaic, a new private market strategy within Lingotto that will invest across asset classes, industries, and capital structures, and will be anchored by Exor. Pam’s mandate will be to invest in what she calls “the weird and wonderful” as she believes that flexible capital will create differentiated opportunities and sustained performance over the long term. Prior to joining Lingotto, Pam was the Chief Investment Officer and Head of Direct Private Opportunities at BlackRock. While at...
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Our guest for today’s podcast is Alka Goel, Founding Partner of Alkemi Growth Capital, a venture capital firm focused on early-stage healthcare and wellness focused companies based in Delhi. Alkemi became operational in 2018 and since then has committed to 10 companies in diverse sub-sectors such as hygiene, diagnostics, pharma supply chain, women’s reproduction, data digitization, etc. Prior to Alkemi, Alka was a partner in McKinsey’s global pharma and medical device practice & private equity practice based out of New York. At McKinsey, she worked for more than 100+ health care...
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Our guest for today’s podcast is Eunice McHugh, Director of Private Credit at San Francisco Employees’ Retirement System (“SFERS”). Eunice is responsible for the buildout and management of the Private Credit portfolio, which has a 10% target allocation for the fund. Eunice has led SFERS' Private Credit efforts (initially as part of the Fixed Income portfolio) since she joined SFERS in early 2013. Under Eunice’s leadership, the Private Credit portfolio has delivered an annual return of 11% over the past decade, surpassing its benchmark by over 500 bps. ...
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Our guest for today’s podcast is Jonathan Xiong, former Asia-Pacific Co-CEO of Millennium. After a 20+ year career in portfolio management working for some of the top investment houses in the business including Millennium, GSAM, Mellon Capital and Franklin Templeton, Jonathan has taken the bold step to start his own asset management business. I was intrigued with Jonathan’s background after reading a Bloomberg article about him launching his own Asia multi-strategy fund. The platform model is dominated by the largest and most well established firms like Millennium,...
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Our guest for today’s podcast is Amanda Moore, CEO and Co-Founder of Aurora Peak Capital, a mission-driven investment firm, dedicated to alleviating the U.S. housing affordability crisis through investments in below market-rate multifamily housing communities. Amanda's first home in the United States was an affordable housing complex in Los Angeles County. Her family were Vietnam war refugees who were rescued by the U.S. Airforce from refugee camps and flown to California and placed in a Section 8 community. Amanda is grateful for the Section 8 housing complex because it filled her...
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Our guest for today’s podcast is Soo Kim, Managing Partner and CIO of Standard General, an investment firm he started in 2007. Soo also serves as Chairman of Bally's Corporation. Soo has been investing in special situations strategies since 1997, including as co-founder of Cyrus Capital Partners from 2005 to 2007 and at Och-Ziff Capital Management from 1999 to 2005, where he was a Principal and co-founder of its fixed income business. Before joining Och-Ziff, he was an analyst for the Capital Management Group at Bankers Trust Company from 1997 to 1999. Soo holds an A.B. from the...
info_outlineOur guest for today’s podcast is Marcie Frost, Chief Executive Officer of CalPERS. Marcie joined CalPERS as CEO in October 2016. She is the ninth CEO and second woman to head America's largest pension fund. As CEO, Marcie oversees an annual budget of $1.8 billion, an experienced team of 2,800 professionals, and three lines of business for the fund: pensions, health benefits, and investments.
CalPERS administers a defined benefit retirement system for more than 1.9 million California public sector workers and their families. It is the nation's second-largest purchaser of health care benefits, covering more than 1.5 million lives. CalPERS' global investment portfolios stand at roughly $460 billion at the time of this recording.
Under Marcie's leadership, CalPERS is focused on maximizing long-term investment returns to meet the fund's fiduciary responsibility to members and leverage the fund's global strength to drive sustainable markets.
So how did Marcie land one of the most coveted jobs in the business? What does it take to run one of the nation’s most influential pensions? What is CalPERS looking for in the next CIO? You want to know? Well, we’ve got the answers.
Without further ado, here is our conversation with Marcie Frost.