State Pension Fund Investment Chief to Leave
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SACRAMENTO — The chief investment officer of the nation’s third-largest public pension fund, the California State Teachers’ Retirement System, has tendered his resignation, effective July 15.
The pension fund said late Thursday that Patrick Mitchell will leave to pursue other opportunities.
Under Mitchell’s direction, the investment portfolio grew from $74.8 billion in June 1997 to $113.6 billion by March 31 of this year, the pension fund said in a statement.
The fund posted an 18.3% return on its investments last year, its fifth consecutive year of double-digit returns, the pension fund noted.
Mitchell has worked for the public pension fund for 12 years, the last three as investment chief.
The fund said its board will address the recruitment process for Mitchell’s successor at its May 3 meeting.
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