Ailman was CIO at the Washington State Investment Board (WSIB) for four years, where he managed a $57 billion pool of assets held in 28 trust funds.
During his tenure WSIB reached $6 billion of private equity investments, the third largest holding in the world, according to a press release from CalSTRS.
The move to Sacramento is something of a homecoming for Ailman. Prior to joining WSIB, he spent 11 years at the Sacramento County Employees’ Retirement System where he was CIO of the county’s pension fund.
He also spent five years in the private sector as a personal investment consultant and financial planner.
At CalSTRS, Ailman will direct a staff of about 50.
His selection follows a national search following the resignation of Patrick Mitchell in April, who left for the equity management field in July.