LP chief heads for private equity

In a time when myriad private equity titans are bowing out, there is talk of the golden age of the industry being behind us. But as they head for the exit, others au fait with the asset are coming in – namely former US institutional investment chiefs.

Yesterday it was announced that Barry Miller, head of private equity at New York City Retirement System, left to join secondaries specialist Landmark Partners. Miller, due to join Landmark in the coming weeks, had only been with the institution since 2011.

Miller will be based in New York, a new office for Landmark. Despite joining from an LP role, he has actually spent the majority of his career in the secondaries market. He co-founded secondary firm Nottingham Capital Management in 2009 with Michael Pilson – before that he spent three years at Pomona Capital. Miller's first foray into private equity was with AXA Private Equity, where he spent six years, according to his LinkedIn profile. Miller earned a BA in economics from Tulane University in 1991.

His departure follows in the footsteps of Zachary A Doehla's departure from Teachers' Retirement System of the State of Illinois (TRS), where he had served as senior investment officer for alternative investments for the $38.2bn fund. Doehla had been with TRS since 2009 and at the end of last year had managed $4.4bn in private equity. Prior to joining the pension fund, he had been with Orix, Bridge Finance Group and HCR ManorCare.

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