Paul Cheng to leave CalPERS after nearly a decade

Paul Cheng, an investment officer at the California Public Employees’ Retirement System (CalPERS), is leaving the pension fund after nine years.

In a farewell email, Cheng said when he started, the Public Employees’ Retirement Fund (PERF) was at $240 billion and has since nearly doubled to $460 billion.

Cheng previously served as equity research associate at Deutsche Bank Securities, Inc., research analyst at ThinkEquity Partners and was a research associate at Citigroup Global Markets, Inc. He received his MBA from the University of Southern California.

“While change has been a given, the one constant is that I’ve always been surrounded by great people,” said Cheng in the farewell email. “Looking back, I’m proud of our work as a group, the objectives we’ve met as a team and the meaningful relationships formed as a work family.”

Cheng’s leave comes nearly a year after the resignation of CIO Ben Meng in August 2020. Meng served less tha