Douglas Hoffner

Chief Operating Officer at California Public Employees Retirement System

Douglas Hoffner

Douglas Hoffner

Chief Operating Officer at California Public Employees Retirement System

Biography

Chief Operating Officer

Douglas Hoffner was named chief operating officer in October 2019. He formulates and assists in the development of organization-wide program objectives, goals, and policies. Doug oversees several key enterprise functions including business and strategic planning, research and data analytics for retirement issues, human resources, information technology, and operational and facilities management.

He previously served in other leadership roles at CalPERS, including deputy executive officer for Operations & Technology 2012-19, and interim chief executive officer.

Doug joined the CalPERS executive team after serving as undersecretary of the California Labor and Workforce Development Agency, where he served for a time as acting secretary. The Agency oversees seven state departments and boards that provide services to California businesses and workers, including unemployment and workers' compensation benefits, workforce development, labor law enforcement, and economic development.

Prior to his leadership on labor and workforce development, Doug was deputy cabinet secretary to Gov. Arnold Schwarzenegger, and assistant director for legislation at the California Department of General Services. He also served as legislative director for California Assemblyman Fred Aguiar.

Doug is a graduate of California State University, Chico, with a degree in political science.

Overview
Career Highlights

California Public Employees Retirement System

RelSci Relationships

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Managing Investment Director at California Public Employees Retirement System

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Teacher-Legal Writing at University of California - Davis

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Co-Head-Africa Investing Team at The Carlyle Group, Inc.

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Vice Chair at California Public Employees Retirement System

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Managing Investment Director, Board Governance & Sustainability at California Public Employees Retirement System

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Former Deputy Executive Officer, Customer Services & Support at California Public Employees Retirement System

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Founder at Asian Pacific Youth Leadership Project

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General Counsel for Investments at The Carlyle Group, Inc.

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Partner at The Carlyle Group, Inc.

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Partner at The Carlyle Group, Inc.

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In The News
Marketline Newswire
July 18, 2016
CalPERS appoints new CEO
Marketline Newswire
June 27, 2016
CalPERS appoints new interim CEO
Private Equity International
June 21, 2016
CalPERS names interim CEO
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Douglas Hoffner
Chief Operating Officer at California Public Employees Retirement System
Career History
Chief Operating Officer
2012 - Current

CalPERS’ assets are managed by the CalPERS Board of Administration. CalPERS invests across a range of asset classes including global equity, private equity, fixed-income, real estate, infrastructure, forest land, inflation-linked bonds, liquidity and trust level. Strategies are managed both internally and through external managers. CalPERS' Global Equity Strategy is responsible for CalPERS investments in securities traded in global public equity markets, including in-house management of index-oriented and active strategies, externally managed active strategies, the Multi-Asset Class Partners Program, and active strategies run by emerging managers (Global Equity Emerging Manager Program). Global Equity is the principal asset class providing growth exposure in the strategic asset allocation. CalPERS Income Strategy primarily consists of US and international fixed income strategies. CalPERS' inflation-linked asset class is made up of two main asset types: commodities (including commodity futures, forwards, swaps, structured notes, and options) and inflation-linked bonds. Forestland investments are long-term investments. The return drivers include biological growth, timber prices, and land values. Forestland targets investments within the timber and agriculture sectors. CalPERS' Liquidity Strategy consists of highly liquid short-term securities with maturities of less than 10 years. Real Estate strategy focuses on US core assets with moderate leverage. CalPERS' Trust Level Portfolio Management Program (TLPM) is responsible for delivering targeted, risk-adjusted, total fund level investment returns over the long-term, anchored by the belief that strategic asset allocation is the dominant determinant of portfolio risk and return.

Other Affiliations

Douglas Hoffner is affiliated with California Public Employees Retirement System

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