CalPERS Names Richard Hayes Principal Investment Officer for Alternative Investments and Private Equity.SACRAMENTO Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. , Calif.--(BUSINESS WIRE)--Aug. 13, 1998--The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System (CalPERS CalPERS California Public Employees' Retirement System ) has named Richard J. Hayes as a principal investment officer for the Fund's $7.3 billion Alternative Investment Management (AIM) program. Hayes will be responsible for analysis, development and implementation of investment strategies for the alternative investment and private equity portfolios of the nation's largest public pension fund. He will monitor and evaluate the performance of direct and partnership investments, including new investment opportunities charted by the Fund. He will also manage and direct the activities of the Fund's outside consultant to ensure that consistent and high quality investment strategies and policies are executed within the System's private equity and alternative investment portfolios. Hayes will report to Barry Gonder, the Fund's Senior Investment Officer for the AIM program. Hayes joins CalPERS from AT&T Wireless Services, where he served as Corporate Director of Customer Base Marketing and Retention. In his position with AT&T, Hayes led the development and implementation of national marketing and product development efforts for the $4 billion wireless business. He also assisted with the design of AT&T's local strategy. Prior to his work with AT&T, Hayes was a senior associate with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Venture Capital Group, managing a $1 billion international venture capital and leveraged buyout leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. portfolio. Hayes earned a Master of Business Administration degree with honors from Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. and a Bachelor of Arts degree in Economics from Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. . CalPERS manages assets totaling more than $143 billion. The System provides retirement and health benefits to more than 1 million state and local public employees and their families. For more information on CalPERS, visit the System's Web site at http://www.calpers.ca.gov.
CONTACT: CalPERS
Brad Pacheco/Pat Macht, 916/326-3991
Office of Public Affairs
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