Desrochers will oversee the CalPERS private equity investment team and external advisers. He will be responsible for managing a globally diversified portfolio of private equity investments representing approximately $49 billion of committed capital, $33 billion of which is invested in the funds of partners of the Alternative Investment Management (AIM) program.
According to a press release, Desrochers previously oversaw the private equity program at the California State Teachers’ Retirement System (CalSTRS). He has advised Blackstone Capital, J.H. Whitney, Texas Pacific Group, Permira, and China Renaissance Industries. Prior to joining CalPERS, Desrochers was the Chief Investment Officer of Saudi Arabian Investment Company.
He earned his MBA degree at Laval University in Canada, and is a Fellow of the Royal Society of Arts in London.