Firms & Funds

CalPERS loses member of private equity co-investment team

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CalPERS, pension fund, private equity
CalPERS headquarters in Sacramento, California. Reuters/Max Whittaker
  • PE investment officer Scott Brown left in January
  • Joined CalPERS in 2013 and worked on the PE co-investment team
  • Appears to have started business called Inefficient Market Labs

Scott Brown, a private equity investment officer at the California Public Employees’ Retirement System, left the pension in January, a CalPERS spokesman confirmed.

It’s not clear when the system will replace Brown. “The position will be filled by the standard state recruiting process,” Joe DeAnda, CalPERS spokesman, said in an email.

Brown joined CalPERS in 2013 and worked on the private equity co-investment team. That team is led by Mahboob Hossain, senior portfolio manager, who joined in 2014.

When Hossain was hired, CalPERS said he would lead a team of four for co-investing. Presumably, Brown was part of that team. DeAnda declined to answer questions about the matter.

Prior to CalPERS, Brown worked as a business relationship manager at Wells Fargo from 2006 to 2012.

Brown appears to have started his own business called Inefficient Market Labs, based out of Sacramento, according to his LinkedIn profile. It’s not clear what the company does. Inefficient Market Labs has no website, but Brown has filed to trademark the name, according to several websites that track trademark applications.

Brown did not return a request to connect via LinkedIn.

Action Item: Read Scott Brown’s trademark application here: http://bit.ly/1XiSBri

Photo: CalPERS’ headquarters is seen in Sacramento, California, October 21, 2009. REUTERS/Max Whittaker