TMRS Executive Director David Wescoe announced today that Yup Kim, Investment Director and Head of Investments for Private Equity at the California Public Employees Retirement System, will become TMRS’ Chief Investment Officer on January 15, 2024. Kim replaces Dave Hunter, who announced his retirement in early November and who will be leaving TMRS in January.
In announcing the news, Wescoe said, “TMRS and its Members are extremely fortunate to have Yup Kim join our leadership team. He is one of the most respected public pension plan investors in the country. At CalPERS, Yup partners with a team of 30 investment professionals who manage almost $60 billion in global private equity assets. When CalPERS hired Yup in 2020, they said he was ‘a thought leader in the industry with a unique combination of strategic insight, investing acumen, and management experience.’ I couldn’t agree more.”
Prior to joining CalPERS, Kim was a senior portfolio manager at the Alaska Permanent Fund Corporation (APFC), where he was recognized by Chief Investment Officer magazine with its “Forty Under Forty” award at age 32. During Kim’s tenure at APFC, an investment fund General Partner described APFC as having “the ultimate model of having a small team of very thoughtful people leveraging their GP network constructively to generate some really interesting deal flow, executing on it and delivering good returns…not many people execute and execute well.” Prior to APFC, Kim served as a member of Deutsche Bank Private Equity’s global investment committee and held roles at Performance Equity, Silver Point Capital, and Citigroup.
Kim graduated from Yale University with a B.A. in economics, speaks six languages and is a prolific author, lecturer, and speaker. Kim serves as chair for the Milken Institute’s Rising Allocators, Board of Directors for the Korea Finance Society, and Term Member at the Council of Foreign Relations.
Commenting on joining TMRS, Kim said, “I am honored to partner with David and the exceptional investment team at TMRS to strengthen its global investment presence and partnerships in support of TMRS’ many members, retirees, and beneficiaries.”
