About this episode
How does one of the world’s largest pension funds shift its culture, governance, and investment process at scale?
David Weisburd speaks with Nicole about her transition from Ontario Teachers’ Pension Plan to serving as CIO of CalPERS, implementing a total portfolio approach, and leading organizational change during a period of market and operational disruption. Nicole shares lessons on governance, board alignment, co-investing, and building long-term investment institutions.
Highlights:
Transitioning from Canadian pension governance to leading CalPERS
Implementing a total portfolio mindset within a large, complex organization
Why culture and governance matter more than asset allocation labels
Breaking down silos across asset classes and investment teams
Aligning incentives, compensation, and accountability
Building trust and transparency with pension boards
The role of co-investing in improving net returns
Lessons from managing private markets at scale
Moving from institutional allocator to founding a private credit firm
Guest Bio:
Nicole is the Founder and Managing Partner of Square9 Capital and previously served as Chief Investment Officer of CalPERS, where she oversaw one of the largest pension portfolios globally. Earlier in her career, she spent nearly two decades at Ontario Teachers’ Pension Plan and also worked as a GP in private markets. Nicole has extensive experience across public and private investments, pension governance, and portfolio construction, with a career focused on long-term capital stewardship and mission-driven investing.
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Sponsor:
AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.
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