The former CIO of Philadelphia’s municipal pension fund is now a private equity manager at the New York State Teachers’ Retirement System (NYSTRS), a spokesperson for NYSTRS confirmed Wednesday.
Brad Woolworth, who joined Philadelphia’ $5.3 billion fund in 2009 as head of private markets and real assets, resigned in April after a year as CIO.
A NYSTRS spokesperson said Woolworth started at the retirement system that same month as manager of private equity. He reports to Managing Director of Private Equity Gerald Yahoudy.
Woolworth had previously worked at the New York State Common Retirement Fund from 2006 to 2009 as an investment officer specializing in private equity. Prior to that, he was a financial analyst at the Office of the New York State Comptroller.
Woolworth’s replacement at the Philadelphia pension, Michael Donatucci, died July 15 shortly after taking office. The fund has not yet announced plans for a new investment chief.
NYSTRS had $109.7 billion in assets under management as of the end of fiscal year 2015. Its private equity portfolio totaled $18.9 billion as of March 2016.
Philadelphia Pension CIO to Depart