Texas City Pension System Names Calpers Investment Director as CIO

The Texas Municipal Retirement System has reached into the professional ranks of the $480.31 billion California Public Employees’ Retirement System to find a successor for its retiring chief investment officer in Austin. The municipal system with $37.4 billion in total assets at the end of June tapped Calpers’s Yup Kim to fill its top investment role, TMRS said. At Calpers, Kim is head of investments for private equity and helps manage a $60 billion portfolio of fund positions and direct co-investments.