NY State Comptroller Appoints Sylvester McClearn as Emerging Managers Director

Thomas P. DiNapoli, the New York State Comptroller, has announced the appointment of Sylvester McClearn as the director of the New York State Common Retirement Fund's Emerging Manager Program. McClearn previously served as the Interim Director of the Program starting in February 2023.

The Fund's Emerging Manager Program focuses on investing with emerging managers either directly or through other managers or Program partners. These investments are made in separately managed accounts or commingled funds, with Program partners assisting in capital deployment, due diligence, and manager recommendations. Additionally, the Fund aims to transition some emerging managers to direct investments each year, with eighteen managers having graduated from the Program so far.

To foster engagement and education within the investment community, the Fund organizes an annual Emerging Manager & MWBE (minority- and women-owned business entities) conference. This conference provides investment professionals with insights into the Fund's investment process and manager selection. The upcoming conference is scheduled for Friday, Feb. 16, 2024, in Albany.

Before assuming the role of Interim Director, McClearn joined Comptroller DiNapoli's office as a senior investment officer for the Emerging Manager Program in 2020. In his current position, he collaborates closely with the Fund's internal investment staff, asset class program partners, and affiliate organizations to oversee all aspects of the Emerging Manager Program.

With over twenty years of experience on Wall Street, McClearn has held leadership roles at CastleOak Securities, Loop Capital Markets, Topeka Capital Markets, and Citi Institutional Client Group. Throughout his career, he has cultivated strategic institutional relationships that have bolstered brand recognition and improved returns for major asset managers. McClearn holds an MBA and bachelor's degree from Fordham University, where he also serves as a Fordham Trustee Fellow.

Source: NY State Comptroller