The Colorado Public Employees’ Retirement Association has hired an old hand to be its new chief investment officer, PERE's sister publication, Private Debt Investor, reported.
Amy McGarrity rejoins PERA after a short stint at William Blair & Company, where she served as a global equities product specialist. Before starting that position, McGarrity served as the deputy CIO for the pension fund under Jennifer Paquette, who retired last year. According to local media, Paquette joined PERA in 1995 as part of the retirement benefits fund’s fixed-income division and assumed the CIO position in 2003.
McGarrity, who will report to executive director Gregory Smith, worked at PERA up until last year. Before her initial stint at PERA, she worked for the Denver Public Schools Retirement System until 2010, when PSRS merged with PERA.
PERA had 8.6 percent of its $43.7 billion portfolio invested in real estate as of September 30, according to its website. The asset class, which is almost entirely invested in North America, returned 13.3 percent in the year ending September 30.
The Centennial State pension fund serves 568,000 current and former state troopers, teachers, corrections officers and other public employees, according to the statement.