New Jersey’s pension fund is continuing a rebuild of its private-markets and fixed-income teams, with plans to add four senior roles.
Delegation and AI are driving the overhaul, as public pension CIOs say technology is expanding their decision-making reach and changing how investment offices are run.
That shift is expected to give CIOs more authority over portfolio decisions while reducing reliance on outside consultants.
The New Jersey hiring push reflects a broader rethink of the public pension CIO job, with internal expertise taking on greater weight across asset classes.
With AI empowering internal pension teams, who takes the blame when an internally managed, complex portfolio suddenly underperforms?
As public pensions ditch consultants for in-house talent, will public sector salary caps ultimately sabotage their ambitious investment strategies?
Can a government pension fund successfully replicate Wall Street's private market expertise without falling victim to massive internal governance risks?