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Anton Orlich is an American businessman, investor and military veteran. He serves as Deputy Chief Investment Officer for Private Markets at California Public Employees Retirement System (CalPERS), a public pension fund that manages approximately $621 billion in assets and is one of the largest of its kind in the United States.[1] In this role, he oversees the Total Fund’s global private equity asset class’s strategies, programs, and policies. He also sits on the Total Fund Management Committee, the Investment Underwriting Committee, and the Operations and Administration Committee, which together manage the total fund.[2] Orlich has served as Managing Investment Director of Private Equity at CalPERS since 2022 and was interim Managing Investment Director of Private Debt from 2024 to 2025.[3]
Orlich studied at Columbia College, Columbia University, where he graduated summa cum laude with a Bachelor of Arts in Economics. He holds a doctorate in political science from Yale University. While at Yale, Orlich was recognised as a Prize Teaching Fellow by the Yale Graduate School of Arts and Sciences – a distinction the school describes as among the most important honours bestowed upon graduate students.
He is a Harry S. Truman Scholar and a Kauffman Fellow.
After completing his military service, Orlich held investment roles including consultant at McKinsey & Company, portfolio manager at Neuberger Berman, and head of equities at the Arizona Public Safety Personnel Retirement System.
From 2013 to 2016, he served as a portfolio manager for private equity at CalPERS. He subsequently became head of private equity at a family office before joining Kaiser Permanente as head of alternative investments from 2019 to 2022.
In November 2022, CalPERS named Orlich Managing Investment Director for Private Equity. He also served as interim Managing Investment Director of Private Debt from 2024 to 2025. In June 2026, following a global search, CalPERS promoted Orlich to Deputy Chief Investment Officer for Private Markets.In this role, he oversees CalPERS' alternative investment programs
Orlich is a member of the Board of Directors of the Institutional Limited Partner Association (ILPA).[4]
Orlich is a U.S. Navy veteran who served in Afghanistan.[5]
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