NYSTRS appoints new PE head

Gerald Yahoudy takes over from retiring managing director of private equity John Virtanen.

The New York State Teachers’ Retirement System, which invests in private equity strategies including secondaries and funds of funds, has promoted Gerald Yahoudy as its new managing director of private equity, according to a statement.

Yahoudy will succeed John Virtanen, who retired from NYSTRS in July, Secondaries Investor‘s sister publication Private Equity International reported. Virtanen worked at the pension system for 38 years, the last two as head of private equity.

NYSTRS’s private equity investments also include buyout, venture capital, co-investment, debt and other asset classes.

In his new role Yahoudy will manage the pension fund’s $8 billion, 16 year old private equity program, which has $17.4 billion in commitments with 83 financial sponsors. Private equity accounted for 7.3 percent of NYSTRS’ portfolio at 30 June. NYSTRS has $108 billion of assets.

Yahoudy was previously manager of private equity for five years, and NYSTRS does not intend to fill that post, according to a spokesperson.

Yahoudy has worked at the New York retirement system for 12 years and held positions as assistant manager of private equity, associate investment officer, and senior accountant at NYSTRS.