CalPERS Hires June Kim Away From CalSTRS as Deputy CIO for Public Markets

June Kim

June Kim, the senior investment director of total fund management at the Sacramento-based California State Teachers’ Retirement System, has landed a new role across town and will become the deputy CIO for public markets at the California Public Employees’ Retirement System, CalPERS announced Wednesday.

Effective December 1, Kim will report to Stephen Gilmore, CIO of CalPERS, and will work closely with the pension fund’s senior investment staff to lead decisionmaking across the portfolio.

“We searched the globe for the right mix of experience and leadership and found the best person for the job right in our own backyard,” Gilmore said in a statement. “CalPERS will benefit from June’s knowledge of global public markets, her understanding of long-term horizons, and her experience in managing high-performing teams.”

Kim will succeed Dan Bienvenue, who left CalPERS in April for a role at General Atlantic Partners L.P., where he leads pension solutions offerings. Bienvenue served as interim CIO of CalPERS on two separate occasions. CalPERS began recruiting for the role in May.

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“June brings a proven track record of success in both the public and private sectors, and we are thrilled to welcome her to the CalPERS team,” said CalPERS CEO Marcie Frost in a statement. “We look forward to June’s leadership and insight as she brings a wealth of investing knowledge to help CalPERS fulfill its mission to deliver retirement security to our members.”

Kim has spent 11 years at CalSTRS and was named senior investment director of total fund management in July 2024. She previously held the role of investment director, global equity and served as the interim deputy CIO of CalSTRS from 2017 to 2018.

In her current role, Kim oversees asset location, balance sheet management and investment risk across CalSTRS’ $374.3 billion portfolio, as of August 31. CalPERS managed $572.1 billion, as of August 31, which includes $221.4 billion in public equity investments.

At CalSTRS, Kim is one of the four senior investment directors who advise CIO Scott Chan on portfolio management strategies and decisions, as well as making tactical and strategic investment recommendations.

“To say that June has made a huge contribution to CalSTRS’ investment success would be an understatement. She has been invaluable,” Chan said in a statement. “Her recent efforts to develop the Total Fund Management division have laid the foundation for future growth. We will miss her deeply, but we’re happy she has joined our colleagues at CalPERS to serve public sector workers in California.”

Prior to working at CalSTRS, Kim was a principal investment officer of equities at the Los Angeles County Employees Retirement Association, was an investment officer for the City of Los Angeles, and held roles at Northern Trust Global Investments, Citibank, Barclays Global Investors and Wilshire Associates.

“I am honored to join the team at CalPERS and continue the important work of providing a strong and secure retirement for those who have served California,” Kim said in a statement. “The mission at CalPERS is so crucial as we deliver on the promise of supporting the financial future of our members.”

Kim was also named to the CIO NextGen class of 2019.

She earned a bachelor of arts in business economics from the University of California, Los Angeles.