The buyout firms are increasingly popular among institutional investors—Carlyle just raised $27 billion.
The insurance giant has tapped Deputy CIO Geoff Cornell to helm its $350 billion investment portfolio.
The asset manager and former consultant is the sixth investment chief to head the fund in about 13 years. He starts Jan. 16.
Right now, the investment head can’t earn a salary above the governor’s $167,000, half what the chief could make elsewhere.