Meet the Directors

Listed alphabetically by last name

Board Member since Oct 2015

Board Member
since Oct 2015

Chief Investment Officer
Municipal Employees' Retirement System of Michigan

Jeb Burns is chief investment officer of Municipal Employees' Retirement System (MERS) of Michigan, an independent non-profit company and one of the 200 largest pension funds in the US. Jeb directs the System's $9 billion investment program. Leading a nine-member team of investment professionals, Jeb is responsible for setting investment strategy for the Fund and implementing all investment programs. Part of senior management, Jeb provides strategic leadership and guidance on business strategy, public policy, organizational development and new business initiatives. He brings a unique combination of public sector and private financial service experience to MERS. Mr. Burns has a bachelor's degree from Western Michigan University, a master's degree from Wayne State University and serves on numerous boards and committees.

Jeb is chair of the PPI Board and an ex officio member of all standing committees.

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Board Member
since Nov 2012

Doon Capital

Howard Chao is an investor, lawyer and counselor to entrepreneurs. He began his work life as a corporate lawyer with O'Melveny & Myers and for many years was the Chair of the Firm's Asia Practice. He helped establish the firm's offices in Tokyo, Shanghai, Hong Kong and Beijing, and practiced for many years as a cross-border investment specialist based in Asia. Since 2001 Howard has been based in Silicon Valley, but continued to dedicate substantial time covering the Asia markets. In recent years Howard has moved to the principal side of investing and deal-making. Howard actively makes angel and other VC investments in earlier stage companies through his personal vehicle, Doon Capital, usually in collaboration with other investors. He maintains close working relationships with various VC and PE funds. Howard invests primarily in startups located in the Silicon Valley and China. Because of Howard's extensive experience with Asia, many of his deals have an Asian (particularly Chinese) nexus. Howard also maintains an active strategic consulting practice. Howard's extensive experience with investment and financing transactions in both the US and China leads him to advise and assist various clients in both places. His transactions span many different sectors, and include multinationals, financial investors and startup companies. Howard also hosts various events on subjects of current investor interest at his ranch in the Santa Cruz mountains. Recent events have covered Auto and Mobility Tech, AgTech/FoodTech, SaaS/Cloud Software, and Hardware and China.

Howard is a member of the Nominating & Governance and Program Committees.

Board Member
since Nov 2014

Founder - Member Portfolio Team
Quantum Advisors Private Limited

Ajit has over 25 years of experience in the investment management and financial services industry. In 1990 Ajit founded Quantum Advisors Private Limited (Quantum Advisors); a multi-asset, India-focused, SEBI-registered Portfolio Manager and a SEC-registered Investment Advisor. Ajit has worked with leading US and UK investment management firms either as a key member of the executive management team or, through Quantum Advisors, as a joint venture partner. He has also served as a Deputy Chief Investment Officer at Hansberger Global Investors, Inc, USA, and, on behalf of HGI, was the lead manager for the Vanguard International Value Fund. Ajit earned his Master's degree in Business Administration (MBA) from the University of North Carolina at Chapel Hill in 1983 after completing his Bachelor's degree in Economics from Bombay University in 1981.

Ajit is a member of the Finance Committee.


Board Member
since Feb 2013

Takajiro (TAK) Ishikawa
Senior Executive Vice President, Mitsubishi Heavy Industries America Inc., &
Senior Vice President, Mitsubishi Corporation

Tak Ishikawa has been with Mitsubishi Corporation, a global trading and investment firm since 1983 and was its Senior Vice President & Division COO of its Asset Management Business Division.  He is now at Mitsubishi Heavy Industries, one of Japan’s leading industrial & infrastructure manufacturing firms,  and moved to Houston in Oct. 2017, as its Senior Executive Vice President responsible for Business Development and M&A. Between 1994 and 2010, he spent 15 years in New York as President, CEO of Mitsubishi’s alternative asset class investment subsidiary where he was responsible for direct and fund investments in private equity and various fixed income products.  He was also the General Partner of Red Diamond Capital, a private equity fund sponsored by Mitsubishi and Advisory Board Member of KPS Capital Partners, Ripplewood Capital Partners, both New York based private equity funds. In his early years, he was Investment Director and GM for Mitsubishi’s Mining & Metals Div., in New York. He was responsible for its acquisition of Iron Ore Company of Canada and numerous other transactions in the Americas. He sits on multiple boards including Pacific Pension & Investment Institute, an education oriented non-profit to provide deep intellectual content to plan sponsors and asset owners who seek investment solutions in Asia. Graduate of Waseda University in Tokyo and has a MBA from Harvard Business School.  He is married with one daughter and one son. He now calls Houston his home but also lives part time in New York and Tokyo.

Tak is member of the Program Committee.

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Board Member
since Feb 2013

CalPERS Board of Administration

Henry Jones serves as president of the California Public Employees' Retirement System (CalPERS) Board of Administration. Mr. Jones retired from the Los Angeles Unified School District as chief financial officer. He also headed the Annuity Reserve Fund Board overseeing the pension fund for 7,000 schoolteachers and administrators. He serves as a personnel commissioner for the Los Angeles Community College District and a CalPERS representative of the Advisory Council of California All. He has a bachelor's degree from California State University, Los Angeles.

Henry is secretary of the PPI Board, chair of the Audit Committee.

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Board Member
since Feb 2011

Co-Founder & Managing Partner
Asia Alternatives Management

Melissa Ma is a co-founder and managing partner of Asia Alternatives. She is on the firm's Investment Committee and co-leads Asia Alternatives' investments in buyout, direct co-investments and special situations. Prior to launching Asia Alternatives, Ms. Ma was a director at Hellman & Friedman LLC and worked at McKinsey & Co., Inc. in the Hong Kong and San Francisco offices. She received an M.B.A. from Harvard Business School.

Melissa is a co-chair of the Nominating & Governance Committee and member of the Membership Committee.

Board Member
since Feb 2016

Chief Investment Officer
Public Employee Retirement System of Idaho

Robert Maynard is chief investment officer of the Public Employee Retirement System of Idaho. Mr. Maynard was formerly the deputy executive director of the Alaska Permanent Fund Corporation. He was also assistant attorney general for the state of Alaska, where he served as counsel for the Alaska Permanent Fund Corporation and the Alaska Public Employees' and Teachers' Retirement Systems. He is the former chair and a current member of the Pacific Pension & Investment Institute's board of directors. Mr. Maynard holds a bachelor's degree from Claremont Men's College (now Claremont McKenna College) and a J.D. from the University of California, Davis.

Bob is a member of the Audit and Membership Committees.


Board Member
since Feb 2015

Chief Executive Officer of International
Global Co-Head of Client Business
Goldman Sachs Asset Management

Sheila is chief executive officer of International Goldman Sachs Asset Management (GSAM) and global co-head of the GSAM Client Business. She focuses on delivering GSAM's client solutions globally. Sheila serves on Firmwide Management Committee, European Management Committee, Firmwide Client and Business Standards Committee and the Goldman Sachs Leadership Development Initiative. She is also a member of the EMEA Inclusion & Diversity Committee and former senior advisor for the Investment Management Division and Securities Division Women's Networks. Prior to her current role, Sheila served as co-head of Equities Distribution in Asia, and before that, she was head of US Derivative Sales and US Synthetics Sales in the Equities Division. She joined Goldman Sachs in 2003 as a managing director and was named partner in 2006. Prior to joining the firm, Sheila was head of Trading Strategy with Morgan Stanley for seven years. Sheila earned an AB in Politics and Near Eastern Studies, summa cum laude, from Princeton University in 1991. She earned an MBA, with highest honors, from Columbia University in 1997.

Sheila is chair of the Membership Committee.

Board Member
since Oct 2015

Chief Investment Officer
Oregon State Treasury

Mr. Skjervem leads an investment team at the Oregon State Treasury (OST) that manages a financial and real asset portfolio valued at $102.5 billion as of December 31, 2017.  That portfolio includes the $77.8 billion Oregon Public Employees Retirement Fund and various other educational, insurance and state agency accounts. Prior to his appointment at OST, John held a variety of portfolio management and leadership positions at Northern Trust including Chief Investment Officer for the firm’s then $170 billion (AUM) Personal Financial Services division.  John started his career as an associate economist for consultants Natelson Levander Whitney, and also worked as a public finance specialist for investment bankers Ehrlich Bober & Co. John earned an M.B.A. with concentrations in finance and statistics from the Booth School of Business at the University of Chicago, and received a bachelor’s degree in Economics from the University of California at Santa Barbara.  He holds the Chartered Financial Analyst designation, and serves on the Pacific Pension Institute’s board of directors.  John is also a former director of the CFA Society of Chicago and an honorary member of the St. Francis Foundation in Santa Barbara, CA.

John is vice chair of the PPI Board, co-chair of the Program Committee, and a member of the Audit and Nominating & Governance Committees.

Board Member
since Feb 2013

Chairman & Chief Executive Officer
Global Strategic Associates

Paul Speltz is chairman and chief executive officer of Global Strategic Associates (GSA). For 40 years, he has been working and living in Asia in business and finance, both in the private and public sectors. Ambassador Speltz served as president of Kissinger Associates. Before that, he was the U.S. executive director and ambassador to the Asian Development Bank. In 2004, while still at the ADB, he was designated as financial and economic emissary to China by Secretary of the Treasury John Snow. Prior to his public sector service, he built and managed a global trading firm in China and was senior director and advisor on Asian geopolitical activities for United Technologies Corporation. He holds bachelor's and master's degrees from the University of Connecticut. 

Paul is a member of the Audit and Membership Committees.

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Board Member
since Jul 2012

Chairman & Chief Executive Officer
FountainVest Partners

Frank Tang is the chairman and chief executive officer of FountainVest Partners. Mr. Tang headed the China investments for Temasek Holdings as a senior managing director and was a member of the firmwide Senior Management Committee and its Senior Investment & Divestment Committee. He was with Goldman Sachs for nearly 11 years in New York and Hong Kong. Mr. Tang worked as an executive director in Principal Investment Area, the private equity arm of Goldman Sachs. He was later managing director and head of the Telecom, Media and Technology investment banking effort in Asia ex-Japan for Goldman Sachs. He is a board governor of the China Venture Capital and Private Equity Association, vice chairman of the Beijing Private Equity Association, and vice chairman of the Shanghai Private Equity Association. Mr. Tang holds an M.B.A. from Columbia Business School. 

Frank is a co-chair of the Program Committee and a member of the Finance Committee.


Board Member
since Feb 2014

Chief Economist/Director, Economics & Investment Strategy
GIC Private Limited

Leslie Teo Eng Sipp is managing director and chief economist at GIC Private Limited. He started his career as an economist at the International Monetary Fund as deputy division chief and assistant to the director of the Asian Department. He spent a number of years at the Monetary Authority of Singapore working on financial market surveillance and stability issues. Dr. Teo joined GIC as a senior investment manager in the Economics & Strategy department. He headed the Asian/Emerging Market Research & Strategy team and served as deputy director, before his appointment as deputy director of the Economics Investment Strategy department (EIS). He was appointed director of EIS in 2012. Dr. Teo is a graduate of the University of Chicago and has a Ph.D. from the University of Rochester.

Leslie is a member of the Nominating & Governance and Program Committees.

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Board Member
since Feb 2012


Bryan Thomson was most recently the senior vice president of public equities at British Columbia Investment Management Corporation (bcIMC). Mr. Thomson was involved in shareholder engagement, voting all proxies for investee companies and engaging with companies, policy-makers and other like-minded investors on a range of environmental, social and governance issues. He graduated from the University of Victoria. Mr. Thomson holds both the CFA and CAIA charters and is a board member of the Canadian Coalition for Good Governance. 

Bryan is treasurer of the PPI Board and chair of the Finance Committee.

Board Member
since Feb 2016

Campbell Lutyens & Co.

Conrad Yan joined Campbell Lutyens as a Partner in 2010. Conrad is a Hong Kong Chinese national with experience of developing relationships with and raising private equity and infrastructure fund commitments from institutional investors and sovereign funds in Asia since 1994, most recently with Credit Suisse Asset Management where he was a Managing Director and Head of Regional Institutional Distribution, Asia Pacific and prior to that with AIG Investments. Conrad holds a Bachelor of Science degree and an MBA degree from the Leonard N. Stern School of Business, New York University. He is also a CFA charterholder.

Conrad is a member of the Membership and Nominating & Governance Committees.