The University of California’s Head of Private Equity Steps Down
Institutional Investor has learned that John Beil is leaving the $168 billion fund.
According to two sources familiar with the matter, the University of California’s managing director of private equity, John Beil, who had been with the $168 billion fund since 2013, left his post in November. Beil did not return a Tuesday LinkedIn message asking for details, and a spokesperson for UC Regents did not return an e-mail seeking comment.
UC Regents has lost at least two members of its management team in just over a year. In May, Susie Ardeshir left the organization to become the chief investment officer at the Arlington County Employees’ Retirement System. Meanwhile, in October 2020, Samuel Kunz, the former head of asset allocation and investment strategy, departed for a wealth management role.
It is unclear where Beil is heading next — neither source was able to provide information on his next role.
Beil’s LinkedIn profile shows that he spent eight years with UC Regents, first as a director of private equity, then as a managing director. He began his career as an analyst at Citigroup, then went to graduate school. After receiving his MBA, Beil joined the International Financial Corporation’s World Bank Group, where he spent five years, first as a consultant, and then as an investment officer.
He then joined the IFC’s asset management division as a senior associate, where he spent three years before being hired by UC Regents.
Beil has served on the Principles for Responsible Investment’s advisory committee, as well as on the board at Duff & Phelps.
For the fiscal year ending June 30, 2021, UC Regents posted a 28.9 percent return, increasing its assets under management by $37.7 billion, according to its annual report. The private equity portfolio returned a whopping 58.7 percent for UC’s endowment, which accounts for about $19 billion of the portfolio for the year. For the pension, which makes up $91 billion of the portfolio, the asset class returned 54.7 percent.