New York City Pension Fund Adviser Taylor Said to Depart Consulting Firm

Mike Taylor, a Pacific Corporate Group vice president who helped advise New York City pension funds on their investments, resigned and joined Aqueduct Capital Group, according to two people with knowledge of the move.

Taylor, who left Pacific Corporate Group’s advisory arm, PCG Asset Management, on Dec. 31, will market hedge and private- equity funds for outside clients as a vice president at the New York-based placement firm, said the people, who asked not to be identified because the move wasn’t made public.

A spokeswoman for Aqueduct Capital Group declined to comment yesterday. Phone calls to Pacific Corporate Group weren’t returned yesterday or over the weekend. Taylor declined to comment.

Taylor worked as a private-equity consultant for New York City’s pension funds, one of the unit’s biggest clients. The five funds have $109.6 billion in assets under management with about 6 percent invested in private equity as of Oct. 31, according to the city comptroller’s website.

PCG Asset Management, which advises on $21.1 billion in assets, hasn’t named Taylor’s replacement.

The California Public Employees’ Retirement System said in October it was cutting ties with Pacific Corporate Group. The La Jolla, California-based firm helped manage two emerging-markets funds with more than $1 billion combined and ran the pension system’s Clean Energy & Technology Fund.

Pacific Corporate Group was the first pension-fund adviser to settle with New York Attorney General Andrew Cuomo following his probe of “pay to play” claims involving the state’s pension system. The firm agreed in 2009 to return more than $2 million and abide by a new code of conduct.

Taylor’s new employer is partially owned by Reservoir Capital Group, a firm with more than $4.5 billion in opportunistic investment funds.

To contact the reporter on this story: Cristina Alesci in New York at Calesci2@bloomberg.net;

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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