California Public Employees’ Retirement System (CalPERS), a key investor in several global and Indian private equity funds, has elected Priya Mathur as board president and Rob Feckner as the vice-president.
Mathur, who will be the first woman president of the CalPERS board, according to a disclosure, had joined it in 2002. She represents public employees on the board, and currently serves on four committees, including governance, investment, pension and health benefits, and risk and audit. While Mathur chairs the pension and health benefits committee, she is vice-chair of the governance committee.
Elected board members serve four-year terms, according to the organisation’s website. This will be Mathur’s first term.
“It is a great honour for me to serve as president of the CalPERS board,” said Mathur. “I am proud of what we have accomplished over the 15 years I have been on the board, but there is still so much to do. I look forward to working with my fellow board members to ensure our members have sustainable pensions and access to quality and affordable health care.”
Mathur is also a principal financial analyst for the Bay Area Rapid Transit District, serves on the Principles for Responsible Investment Board, and is a member of the Investor Advisory Council for Astia, a not-for-profit organisation dedicated to the success of women-led, high-growth ventures.
She will oversee the board’s business, and set meeting schedules and agenda with input from other board members and CalPERS executive staff. She will also make appointments to board committees and represent CalPERS before outside parties.
Feckner, who had earlier served as board president and vice-president, represents school members on the CalPERS Board, and had joined it in 1999. He currently serves on four board committees, including governance, investment, pension and health benefits, and risk and audit.
He has served the Napa Valley Unified School District for over 40 years, and is a past president of the California School Employees’ Association.
The pension fund serves over 1.9 million members, and administers health benefits to more than 1.4 million members and their families, making it the largest defined public-benefit pension in the US. CalPERS’ total market value currently stands at about $358 billion.
The fund posted double-digit net returns on investments for the fiscal year through June 2017, driven by its public equities portfolio.