New York Common Promotes McClearn to Interim Director of Emerging Manager Program

Sylvester McClearn

New York State Comptroller Thomas DiNapoli announced last week the promotion of Sylvester McClearn, better known as Sly, to interim director of the New York State Common Retirement Fund’s emerging manager program.

“We are extremely proud of our Emerging Managers Program, and Sly has already added to our work opening the doors for up-and-coming financial managers,” New York Common CIO Anastasia Titarchuk said in a statement. “I look forward to further working with Sly as our staff continues its dedication to performance and diversity.”

The previous director of the program, Anyori Hernandez, was appointed on January 17 as the CEO and president of the New America Alliance, a position he will begin later this month.

According to an emailed statement from the press secretary of the Office of the State Comptroller, “Further recruitment efforts are being reviewed and discussed,” in terms of a long-term appointment.

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The $233.2 billion New York State Common Retirement Fund’s emerging manager program invests with emerging managers directly, or with the assistance of other managers and program partners in separately managed accounts or commingled funds. Program partners assist in the timely deployment of capital, due diligence and recommendation of managers to participate in the program.

The program seeks to graduate emerging managers to be mature direct investment managers within the fund. Since it began, more than 20 emerging managers have graduated from the program. The fund holds an annual Emerging Manager & MWBE (minority- and women-owned business entities) conference to give investment managers the opportunity to gain a better understanding of the fund’s investment process and manager selection.

McClearn, who has been at New York Common since 2020, brings more than two decades of Wall Street service and more than 36 years of institutional investment management to his new role, having made career stops at Drexel Burnham Lambert, NatWest Markets, Salomon Brothers, Citi Bank, Topeka Capital Markets, Loop Capital Markets and CastleOak Securities.

McClearn earned a B.S. and an MBA from Fordham University, where he continues to serve as a trustee fellow.