By David G. Barry
Pasy Wang
is leaving her role as senior managing director, investments, of the California
Institute of Technology (Caltech) to become chief investment officer of
another Southern California institution.
Wang confirmed to Markets Group that she is joining Los Angeles-based Cedars-Sinai
as the non-profit academic healthcare organization’s first CIO. She declined
further comment, and a Cedars-Sinai spokesman did not respond to a Markets
Group inquiry. The move was first reported by Institutional Investor.
According to Cedars-Sinai’s most recently posted 990 Tax Form for the fiscal
year ended June 30, 2020, it had total assets of $7.5 billion and net assets of
$5.1 billion.
Wang joined Caltech in 2010 from Pacific Alternative Asset Management Co.
(PAAMCO). Serving as deputy CIO at the $4.5 billion endowment, she led
Caltech’s investment team in portfolio management overseeing all asset classes
and direct investments.
Caltech’s CIO, Scott Richland, who also
joined in 2010, told Markets Group that Pasy “was a terrric team leader” and that her “contributions were meaningful during a period when the investment office grew from $1.6 billion to $4.5 billion.”
Richland said that Senior Managing Director Doug MacBean will oversee the investment team. He has been with Caltech since 2014.