NYC Names New Head of PE Investments

NEW YORK – The New York City comptroller’s office recently announced the appointment of a new administrator to lead private equity investment for the city’s multi-billion-dollar retirement fund.

On Dec. 5, Comptroller Scott M. Stringer selected J. David Enriquez as Head of Private Equity for the Bureau of Asset Management. Enriquez will oversee the $12.3 billion private equity portfolio of the city’s five pension systems.

“David has been a prudent and thoughtful portfolio manager and I know he will continue to be a valued member of the Comptroller’s office, strengthening the work of the Bureau of Asset Management and protecting the retirement of New York City pensioners,” Stringer said in a news release.

In July, Enriquez was appointed interim Co-Head of Private Equity along with Gabriel Morrow–both of whom previously served as senior private equity investment officers for in the Bureau of Asset Management.

Enriquez joined the bureau in February 2016 and previously worked as an investment banker at Rothschild, Merrill Lynch and Bear Stearns.

“David is an experienced private equity investor with a deep commitment to the work of the Bureau of Asset Management,” said Alex Doñé, Deputy Comptroller of the Bureau of Asset Management, Chief Investment Officer and a former Head of Private Equity. “I look forward to having David on BAM’s Senior Management team and I am confident that BAM will benefit from his leadership.”

New York City’s pension fund is one of the largest in the U.S. According to the comptroller’s office, the city’s five pension funds currently contain $200.2 billion, which grew by more than $13 billion over the last year. The fund’s private equity portfolio grew by almost $1 billion in the same period of time.

According to most recent data, there are more than 1,300 private equity-backed companies in the New York-Newark-Jersey City metropolitan area–the highest concentration of any region in the country.