early this month resigned as chief investment officer of the
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
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
Advent adds Wigley
Frazier boosts staff