Karl Polen, Arizona State Retirement SystemThe Arizona State Retirement System (ASRS) has named Karl Polen CIO following the departure of longtime chief Gary Dokes.
Polen joined the $32 billion pension fund in September 2010 and until now served as its head of private markets investing. He came to ASRS after 30 years in private-sector finance, including roles as executive vice president at Pivotal Group and CFO at Robson Communities.
“Karl has demonstrated extraordinary talent in all relevant areas of investment management, including real estate, private equity, private debt, asset allocation, research, and leadership,” Director Paul Matson said in a statement. “With this breadth of experience, I’m confident the ASRS will continue to be a top-tier investment performer.”
Polen replaces former CIO Dokes, who announced last month he would leave the pension fund after two decades to serve as the inaugural investment chief of the $760 million Arizona Community Foundation.
“During his tenure, the ASRS investment division has become recognized as a leader in public fund asset management with consistent top quartile performance,” Matson said in a statement at the time. “He will be missed and we wish him success in his new position.”
Polen has served on the boards of the Central Arizona Project and the Boys and Girls Clubs of Metropolitan Phoenix. He holds an MBA from Vanderbilt University.