CalPERS Hires June Kim as Deputy Chief Investment Officer for Public Markets
Kim brings nearly three decades of investment experience to CalPERS
October 8, 2025
Communications & Stakeholder Relations
Office of Public Affairs
(916) 795-3991 - newsroom@calpers.ca.gov
Sacramento, Calif. – The California Public Employees’ Retirement System (CalPERS) today announced that it has hired June Kim as its new Deputy Chief Investment Officer for Public Markets. Kim has nearly three decades of investing experience, most recently as senior investment director of total fund management at the California State Teachers’ Retirement System (CalSTRS).
“June brings a proven track record of success in both the public and private sectors, and we are thrilled to welcome her to the CalPERS team,” said Chief Executive Officer Marcie Frost. “We look forward to June’s leadership and insight as she brings a wealth of investing knowledge to help CalPERS fulfill its mission to deliver retirement security to our members.”
At CalPERS, Kim will report to Chief Investment Officer Stephen Gilmore and work closely with the agency’s managing investment directors to lead decision-making across the portfolio. Her appointment will be effective December 1.
"We searched the globe for the right mix of experience and leadership and found the best person for the job right in our own backyard,” Gilmore said. “CalPERS will benefit from June’s knowledge of global public markets, her understanding of long-term horizons, and her experience in managing high-performing teams.”
At CalSTRS, Kim oversaw asset allocation, balance sheet management and investment risk across the fund, which was valued at $374.3 billion as of Aug. 31, 2025. Prior to that role, Kim served as the investment director of global equity at CalSTRS for 10 years.
“I am honored to join the team at CalPERS and continue the important work of providing a strong and secure retirement for those who have served California,” Kim said. “The mission at CalPERS is so crucial as we deliver on the promise of supporting the financial future of our members.”
“To say that June has made a huge contribution to CalSTRS’ investment success would be an understatement. She has been invaluable," said CalSTRS Chief Investment Officer Scott Chan. "Her recent efforts to develop the Total Fund Management division have laid the foundation for future growth. We will miss her deeply, but we're happy she has joined our colleagues at CalPERS to serve public sector workers in California."
Before joining CalSTRS, June served as head of equities for the Los Angeles County Employees Retirement Association. She also worked as an investment officer for the City of Los Angeles. Kim worked in the private sector before joining public service, with experience at Northern Trust Global Investments, Citibank, Barclays Global Investors, and Wilshire Associates.
She graduated with a degree in business economics from the University of California at Los Angeles and is a 2019 Finance Leaders Fellow of the Aspen Institute and a member of the Aspen Global Leadership Network.
Kim will succeed Dan Bienvenue, who left CalPERS in April to become managing director of the private equity firm General Atlantic.
About CalPERS
For more than nine decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their life’s work in public service. Our pension fund serves more than 2 million members in the CalPERS retirement system, making us the largest defined-benefit public pension in the nation. We also administer health benefits for more than 1.5 million members and their families, making CalPERS the nation’s largest purchaser of public employee health services behind the U.S. government.