The University of California investment office has made a
new senior hire as part of a build out of its real assets
Chief Investment Officer Jagdeep Bachher announced the hire of
managing director John Ritter during an investment committee
meeting Tuesday. Ritter, previously director of energy and
natural resources at the Teacher Retirement System of Texas,
joins UCs team after about ten years with the Texan
Ritter will head a three-person real assets team that
includes senior analyst Jessica Hans and investment officer
Albert Lee. Bachher was enthusiastic about having built out
this team, noting the almost close to zero real
assets staff at the fund when he joined in 2014.
Weve actually grown it, he said at the
meeting. I think there will be lots of good real assets
opportunities going forward.
The University of California investment office is
responsible for managing $107.2 billion split across several
funds, including the schools endowment and pension
Both the endowment and the university retirement plan had
less than 1 percent allocated to real assets at the end of
March, according to a University of California document that was prepared for the
investment committee meeting.
The endowments real assets program gained 3.5 percent
in the 12 months through March, while the pensions
exposure to the category earned a 5.5 percent return. Both real
asset programs posted losses in the three- and five-year
periods through March, the document shows.