Diloshini Seneviratne, who started CalSTRS' infra programme in 2010, is leaving the pension fund at the end of June to spend more time with her family and engage in volunteer work.
“Since 2010, Dilo built the foundation of the CalSTRS infrastructure programme from the ground up,” CalSTRS chief investment officer (CIO) Christopher Ailman told Infrastructure Investor in an emailed statement. “And she's been at the forefront of the industry from her initial entry. She has represented CalSTRS admirably in all facets of the programme.”
In the statement, CalSTRS said it “will be seeking experienced industry experts to fill behind Dilo”, whose official title is portfolio manager for infrastructure, but did not mention replacing her directly.
Paul Shantic, director of CalSTRS' inflation-sensitive allocation, which includes infrastructure, said of Seneviratne: “She has served as a thoughtful and patient teacher for both the staff and others in the industry. Dilo is widely respected and admired by both grizzled industry veterans and new entrants. We will miss her and her contributions, but she will leave us with a legacy that we will continue to build upon.”
Seneviratne began her investment career in Asia and has led public IPOs, worked on public asset privatisations and advised company boards on corporate governance. Prior to joining CalSTRS, she worked for nine years at CalPERS, working on real estate and natural resources assets. At CalSTRS, she worked in private equity before leading the infrastructure programme.
CalSTRS has committed a total of $2.2 billion to infrastructure, although its portfolio had a market value of $1.2 billion as at 31 March, according to CalSTRS documents. The pension has made no new commitments to infrastructure during the first quarter of the year.