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CalPERS Hedge Fund Chief to Join Future Fund

Craig Dandurand is set to join Australia’s sovereign wealth fund in February.

(December 19. 2013) – The United States’ largest public pension fund will be losing its head of hedge funds to Australia’s sovereign wealth vehicle, aiCIO has learned. 

Craig Dandurand is wrapping up his final week as portfolio manager of absolute return assets after 13 years at the California Public Employees' Retirement System (CalPERS) in Sacramento.

In the New Year, Dandurand and his family will relocate to Melbourne, Australia, where he will take up the role of director of debt and alternatives at the Future Fund.

“We’re excited to have Craig join the team and think his experience will be an asset to our efforts,” Will Hetheron, the fund’s head of public affairs, told aiCIO.  

Dandurand will be reporting to David George, head of debt and alternatives.

The Future Fund, at A$92 billion ($81 billion), is less than one-third the size of CalPERS’ $277 billion portfolio. However, the sovereign wealth vehicle has asserted itself as a model of strong governance and thoughtful decision-making.

Dandurand practiced law in California for two years before joining CalPERS as an investment officer in 2000. He rose up to portfolio manager in 2007.

He holds a doctor of law from the University of California, Davis and a bachelor’s of science in mathematics from Harvey Mudd College.

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