NEWS

Former NYC Retirement Systems CIO Joins PE Firm

By David G. Barry

 

Alex Doñé, who in December stepped down as chief investment officer of the New York City Retirement Systems, has joined an investment firm that he knows well.


Doñé is now a managing director with Platinum Equity, responsible for the Los Angeles-based firm’s global functions related to strategic planning, investor capital development and other firm leadership initiatives.


Doñé served for three years as CIO for the New York City Comptroller’s Office Bureau of Asset Management. NYC BAM is responsible for managing the city’s $274 billion pension portfolio and spearheads the New York City Comptroller’s responsibilities as investment advisor to the five New York City retirement systems. Doñé left NYC BAM at the end of 2021 as the agency prepared to transition under a new city comptroller, Brad Lander. There is currently a nationwide search to fill the role, which is being filled on an interim basis by Deputy CIO Michael Haddad.


Platinum said the five NYC pension systems are investors in Platinum’s private equity funds.
Doñé joined NYC BAM in 2012 and served as executive director of private equity; head of private equity; group head – private markets; deputy CIO – private markets; and interim CIO.

 
In a prepared statement, Doñé said, “I have had the privilege of investing and working with many of the world’s top managers and been witness to the extraordinary growth of the private markets in the last 10 years. I couldn’t be more excited to join Platinum Equity at this crucial period of both opportunity and uncertainty in the global markets.”


Founded in 1995, Platinum has more than $36 billion of assets under management and a portfolio of approximately 50 operating companies. It is currently investing from a $10 billion global buyout fund and a $1.5 billion buyout fund.


Tom Gores, Platinum Equity’s founder, chairman and CEO, also in a prepared statement, said, “We have known Alex for many years and have tremendous respect for him as an investor, advisor, leader and public servant.”


Prior to joining NYC BAM, Doñé served in the Obama administration as a presidential appointee at the U.S. Department of Commerce’s Minority Business Development Agency. Before that, he was a consultant to a private equity firm and a director at KPMG Corporate Finance, where he led the Retail Industry Mergers and Acquisitions group. He also spent 11 years at Merrill Lynch as an investment banker.