(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.
Related Content: Craig Dandurand in the Forty Under Forty