Sacramento County Gets a New Deputy CIO

James Donahue will work with chief Steve Davis to develop the fund’s structure.

After a near three-year vacancy, the $9.2 billion Sacramento County Retirement System has a new deputy chief investment officer.

James Donahue will join the firm in January, working alongside Steve Davis, who last held the title until 2016, when he became CIO.

The new deputy will help Davis create and evaluate investment policies and strategy, developing the asset allocation and asset class structures, risk management framework, and the oversight and selection of the fund’s investment managers and service providers, according to a release.

Donohue previously worked as the American National Red Cross endowment and defined benefit plans’ private equity director. Prior to that, he was at the UK-based Keyhaven Capital Partners, a European fund of funds and advisory firm.

Davis and Donahue could not be reached for comment.

The fund’s allocation mix as of June 30 was 20.2% US equity, 19.9% international equity, 10.1% core and core plus fixed-income, 9.5% real estate, 9.2% private equity, 6.7% diversifying absolute return, and 4.5% in US Treasury paper.

Another 4.3% was in private real assets, 3.3% cash and other, 3% growth oriented absolute return. Lastly, 2.9% of the investment portfolio was allocated to global fixed income, 2% public credit, 0.3% was in commodities, and the last 0.1% was in opportunities.

Tags: , ,

«