Nayar leaves HSBC after more than 25 years at the company.
The $22.6 billion pension fund is also seeking investment analysts for fixed income, equities and real assets.
LACERA outperformed its benchmark by 140 basis points to raise its portfolio’s asset value to $73.6 billion.
He succeeds Christopher Conkey, who will step down in December after more than 13 years with the firm.
He was most recently head of investment management at private banking firm Brown Shipley.
CIO Kåre Hahn Michelsen has been promoted to succeed Søren Kolbye Sørensen as head of the $21.5 billion fund.
Caroline Lovelace succeeds the company’s founder, Floyd Tyler Jr., who passed away in January.
His co-head of investment and wealth strategies, Beata Kirr, leaves to join private investing firm The Copia Group.
Ohio and Texas pension funds were among investors who lost millions as a result of James Velissaris’ fraud.