New York City Retirement Systems CIO Lawrence Schloss has revealed he is leaving the LP to become president of alternative investment firm Angelo, Gordon & Co.
Schloss will switch out of the $145bn-managing pension manager after four years as CIO to take up the new role on November 11.
During his tenure he grew pension assets from $100bn and helped achieve an annualised rate of return of 11.9 per cent, well above the seven per cent actuarial assumption.
Angelo, Gordon co-founder John Angelo said, “We are pleased Larry is joining us as president.
“He is a seasoned investment professional who has provided leadership and insight to both public and private institutions including NYCRS, Credit Suisse, DLJ and others.”
Fellow co-founder Michael Gordon said, “We expect Larry will apply his experience and insights to help us deliver on our only priority, which is to meet the evolving and challenging investment needs of our investors.”
Schloss becomes the tenth member of the firm’s executive committee and will become a partner in the employee-owned firm.
Angelo, Gordon currently manages about $24bn directed across private equity, real estate and credit investments.
Copyright © 2013 AltAssets