(Bloomberg) -- The head of private equity investments for the largest public pension fund in the US is joining the Texas Municipal Retirement System as chief investment officer.

Yup Kim will start his new job on Jan. 15, replacing Dave Hunter, who announced his retirement in November, according to a statement Tuesday. 

The incoming CIO worked with a team of 30 investment professionals at California Public Employees’ Retirement System to manage almost $60 billion of global private equity assets, according to the statement. Calpers said Anton Orlich, its managing investment director for private equity, will continue to oversee the group. 

Kim’s departure follows the resignation of Calpers CIO Nicole Musicco in September. The pension fund is known for being tough to manage, and it has cycled through a series of investment chiefs. The fund, with $462.8 billion of assets at midyear, is still looking for a replacement for Musicco.

Prior to joining Calpers in 2020, Kim was a senior portfolio manager at Alaska Permanent Fund Corp.

“He is one of the most respected public pension plan investors in the country,” TMRS Executive Director David Wescoe said in the statement.

TMRS, which provides retirement benefits for more than 930 cities, had $37.4 billion of assets under management and a one-year return of 8.17% as of June 30, pension documents show. It was 89.7% funded at the end of last year, according to its annual report.

(Updates with Orlich’s role in third paragraph.)

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