The Texas Municipal Retirement System (TMRS) has declared the appointment of a new CIO, Yup Kim, who hails from CalPERS. Kim will be stepping into the shoes of Dave Hunter, the outgoing CIO due for retirement in January.
Yup Kim: A Stalwart from CalPERS
Hires New CIO From CalPERS – Yup, Kim has been well-reputed in his role as an investment director of private equity at CalPERS since 2020. His tenure at CalPERS saw him leading a team of 30 investment professionals managing nearly $60 billion in global private equity assets. His transfer to the Texas Municipal Retirement System as the new CIO is scheduled for January 15, 2024.
Congratulations to Yup S. Kim on his appointment as the new CIO at TMRS. Your wealth of experience and innovative mindset make you perfect for this role. We appreciate your support of AAAIM and we wish you tremendous success in this exciting new chapter! https://t.co/46HWnuiNcs
— AAAIM (@AAAIMorg) December 20, 2023
Leadership Remarks on the New CIO
David Wescoe, the executive director of TMRS, sings high praises of Yup Kim. Wescoe mentioned in his statement, “We’re extremely fortunate to have Yup Kim join our leadership team. His reputation as a respected public pension plan investor is not an understatement. Hires New CIO From CalPERS & His unique blend of strategic insight, investing acumen, and management experience makes him an industry thought leader.”
Career Antecedents of Yup Kim
Beginning his career at Citi in investment banking, Kim went on to work as an associate at Silver Point Capital. He showed his prowess in private equity at Performance Equity and Deutsche Bank. In 2016, he was hired by the Alaska Permanent Fund Corp. as a senior portfolio manager of private equity, before eventually joining CalPERS as an investment director in 2020.
Yup Kim’s Commitment to TMRS
Yup, Kim expressed his enthusiasm about his new role. “I am honored to partner with David and the exceptional investment team at TMRS. I aim to fortify its global investment presence and partnerships in support of TMRS’ members, retirees, and beneficiaries,” he commented.
Hires New CIO From CalPERS & Kim holds an economics degree from Yale University and is a visiting lecturer at Yale, the Harvard Business School, and the Wharton School of the University of Pennsylvania. He participates actively in the Milken Institute Rising Allocators, the Korea Finance Society Board of Directors, and as a term member of the Council of Foreign Relations.