Executive moves, week of June 15, 2009

OPERS CIO steps down

Jenny Hom

early this month resigned as chief investment officer of the Ohio Public Employees Retirement System.

An OPERS spokeswoman said in a statement that Hom’s decision was for “personal reasons.”

Hom joined the state pension fund in 2002 as a fixed-income manager. She was named CIO in 2005. The system will launch a search for her replacement, with CEO Mark DeRose overseeing investment responsibilities in the interim.

OPERS is the nation’s 12th-largest state public pension fund, with $60.5 billion in assets under management. As of year-end 2008, it had about 4% exposure to private equity with a 5% target allocation. —Dan Primack

Ex-Goldman Asia banker Zhang joins new China fund

Zhang Yi

has joined Trust Bridge, a Shanghai-based private equity firm that recently raised a $400 million fund. He previously was co-head of Goldman Sachs’ Asia Special Situations Group. Zhang is considered a top dealmaker in China, helping Goldman Sachs make such high-profile investments as meat processor Shuanghui and Western Mining.

Trust Bridge launched in late 2008 with a focus on high-growth Chinese private enterprises, said sources familiar with the matter

“[Zhang] has high influence and a good reputation for dealmaking in China and it is natural for him to follow the industry trend to join the private equity world after his long-time investment banking career,” said one of the sources.

Zhang has become the latest senior Goldman banker to join the private equity industry, while China remains as a focus for dealmakers despite the global credit crisis. In January, Mount Kellett Capital Management, a private equity firm launched by former Goldman Sachs Partner Mark McGoldrick, who is known as “Goldfinger,” raised at least $1.5 billion and was on the hunt for investments, Reuters reported.

In November, FountainVest, led by Frank Tang, a former senior executive for Singapore’s Temasek Holdings and who is also a former senior Goldman Sachs banker, said it had raised nearly $1 billion for its first private equity fund. —George Chen, Reuters

Farmer departs Bessemer

Chris Farmer

has left Bessemer Venture Partners, where he had been a vice president focused on digital media and wireless companies. His board seats include Access 360 Media, Cecure Gaming and GoTV Media. No word yet on his future plans. The Larchmont, N.Y.-based firm raised $1.65 billion for Bessemer Venture Partners VII, a balanced stage fund that closed in 2007.

Advent adds Wigley

Bob Wigley

has joined Advent International as an operating partner, with a focus on financial services opportunities in Europe. He had spent the past decade with Merrill Lynch, most recently as chairman of Merrill Lynch Europe, Middle East and Africa.

Frazier boosts staff

Seattle-based Frazier Healthcare and Technology Ventures has made four promotions to its growth equity team. Brian Morfitt and David Kosloff were named principal while Steven Tallman and Joseph Whitters were promoted to operating partners.