The New Mexico Public Employees Retirement Association
(PERA) has hired Dominic Garcia, head of external public
markets investments at Wisconsins state pension fund, as
its chief investment officer, Garcia confirmed to
PERA has been searching for a permanent CIO for its $15
billion portfolio since early spring, when Jonathan Grabel
departed to lead the much larger Los Angeles County pension system.
For Garcia, the move puts him at the helm of an investment
organization for the first time. He spent the last nine years
working for the State of Wisconsin Investment Board (SWIB), among
the most sophisticated public pensions in the country and one
of the few investing a substantial portion of its portfolio
[II Deep Dive: Wisconsin CIO David Villa Brings Asset
Garcia, as senior funds of funds manager, oversaw
SWIBs public markets assets invested with external
A spokesperson for SWIB could not yet offer any details on
how Garcia's role will be filled, but noted that the fund
continues to have a "very strong" team in place. "This is a
great opportunity for Dominic," she said.
For Garcia, the CIO position marks not only a step up
professionally, but also a return home. Garcia was born and
raised in New Mexico, and is relocating to Santa Fe ahead of
his September 5 start date.
For me, this is an opportunity to take what Ive
learned the key principles and precepts that made SWIB
successful back to my home state, and to seek to
integrate with the existing solid foundation to build an even
stronger program," he said when reached by II.
PERA did not respond to request for comment by press