NYC comptroller hires new PE head

Enriquez will be responsible for overseeing the $12bn private equity portfolio of the five NYC pension systems: Teachers' Retirement System of the City of New York (TRS), New York City Employees' Retirement System (NYCERS), New York City Police Pension Fund (Police), New York City Fire Pension Fund (Fire), and New York City Board of Education Retirement System (BERS).

Enriquez has served as interim co-head of private equity since July 2018, before being promoted to head of PE. He joined BAM in February 2016 as senior investment officer for private equity. Prior to BAM, he worked for Rothschild, Merrill Lynch and Bear Stearn.

Each of the five pension funds has its own board of trustees, and they also have different consultants advising them depending on the asset class.

StepStone Group has been advising NYCERS, Police and Fire for their investments in private equity, and Hamilton Lane is the investment consultant for TRS.

NYCERS and Fire have invested larger parts of their portfolios to private equity, compared with the other pension funds, amounting to 6.9% and 6.7% respectively. The current allocation to private equity as of August 2018 is 6.1% for Police, 5.8% for BERS, and 5.3% for TRS.

Some of the recent commitments of NYCERS include Crestview Partners IV, Bridgepoint Europe VI and EQT VIII. Fire has also committed to Bridgepoint Europe VI, but also to Platinum Equity Capital Partners IV and CVC Capital Partners VII.

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