CAIA, SBAI Form Global Alts Partnership | Chief Investment Officer

The Chartered Alternative Investment Analyst Association and the Standards Board for Alternative Investments have formed a global partnership intended to improve standards and professionalism in the alternative investments industry.

Under the collaboration, CAIA and the SBAI, a London-based alliance of alternative investment managers and institutional investors, will share knowledge and cooperate on education, industry resources, and transparency tools on topics such as due diligence, environment, social, and governance issues, and culture and diversity.

“The missions of CAIA and the SBAI are strongly aligned, focused on advancing responsible practices and making investing in alternatives more efficient and transparent,” SBAI Executive Director Thomas Deinet said in a release. “We believe that we achieve the best results by working globally with like-minded organizations, to avoid duplication and leverage each other’s work, solving for better.”

David George, deputy CIO of the Future Fund, as well as a trustee of SBAI and a CAIA board member, said in a statement that the collaboration between the two organizations “will provide an important platform for promoting robust industry standards and professionalism globally.”

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In February, the SBAI and the CAIA announced the creation of a forum of alternative investment industry organizations committed to addressing diversity in the alternatives industry. The forum is chaired by the SBAI, and members include 100 Women in Finance, The Alternative Investment Management Association, The Asset Owner Charter U.K., the CFA Institute, the Diversity Project, the European Leveraged Finance Association, the Institutional Limited Partners Association, the Investor Leadership Network, and The Value Reporting Foundation, as well as the CAIA.

“We face a common challenge when it comes to making our industry more representative of the investors and communities that it ultimately serves,” Adam Jacobs-Dean, the Alternative Investment Management Association’s head of markets, governance, and innovation, said in a statement when the forum was launched. “By sharing our resources and insights, we stand the best chance of moving the dial and ensuring that everyone has a chance of success in the alternative investment industry regardless of their gender or background.”

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Tags: Adam Jacobs-Dean, Alternative Investment Management Association, Alternative Investments, Alts, CAIA, Chartered Alternative Investment Analyst Association, David George, SBAI, Standards Board for Alternative Investments, Thomas Deinet

New York City Comptroller Brad Lander has launched a nationwide search to hire a new chief investment officer for the New York City Retirement System. Former Deputy CIO Michael Haddad has been serving as interim CIO since former CIO Alex Doñé stepped down at the end of 2021 to pursue new opportunities.

Lander’s office said that it will be the first time the comptroller’s search for a CIO will be a collaborative effort with independent investment experts and the retirement system’s trustees.

“I am excited to announce the launch of our search for a permanent chief investment officer for the New York City retirement system,” Lander said in a statement. “The process to find the right person for the job of stewarding investments for New York City’s 750,000 current and future retirees will be a partnership with the trustees who represent them on the pension funds and will include an advisory committee of industry experts.”

The CIO oversees the Bureau of Asset Management, which manages the city’s $274 billion pension portfolio and leads the comptroller’s responsibilities as investment advisor to the city’s five pension funds: the New York City Employees’ Retirement System , the Teachers’ Retirement System, the New York City Police Pension Fund, the New York City Fire Pension Fund, and the Board of Education Retirement System.

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According to the comptroller’s office, the CIO will lead the office’s work to maximize risk-adjusted market returns through responsible fiduciary investing, “bringing an equity and sustainability lens to the portfolio, and securing long-term sustainable growth that will guarantee retirement security and a better future for public sector workers and their families.”

The search is intended to be a consultative process that will include the participation of independent investment experts and the system’s trustees, who will be involved during key points of the process, such as contributing to the job description, recruiting candidates and evaluating finalists. The search will be managed by consulting firm Korn Ferry, which was chosen based on an evaluation of proposals conducted by the comptroller’s office.Related Stories:

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Tags: Alex Doñé, Brad Lander, Bureau of Asset Management, chief investment officers, CIO, Michael Haddad, New York City Employees' Retirement System (NYCERS)