Michael Flaherman, Former CalPERS Investment Chairman, Joins Lyrical Partners

NEW YORK, Nov. 9, 2011 /PRNewswire/ -- Lyrical Partners, L.P., ("Lyrical"), the multi-capability investment boutique, today announced that Michael Flaherman, former Chairman of the Investment Committee of CalPERS, has joined the firm as a Managing Director.  In this newly-created position, Mr. Flaherman will also serve on the Investment Committee for Lyrical's fund of hedge funds.

Mr. Flaherman served as Chairman of the Investment Committee of CalPERS, the nation's largest pension system, currently with approximately $230 billion in assets, from 2000 to 2003, and was a board member since 1995.  In his later role, Mr. Flaherman led board decision-making on all aspects of CalPERS' investment strategy, including asset allocation and CalPERS' investment program in traditional and alternative equity, fixed income, real estate, and private equity.  His role also included oversight of CalPERS' investment operations, comprising 130 investment staff and nearly 300 external investment manager and consultant relationships.

"Mike's combination of experience, analytical rigor and integrity is unique, and we're proud to welcome him to the Lyrical team," said Jeffrey Keswin, Lyrical's Founder and Managing Partner.  "Lyrical aims to manage and deliver straightforward, world-class investment propositions.  Mike's addition will not only help us achieve this goal but also ensure that Lyrical remains closely attuned to our investors' interests and needs."

"Throughout my career, I've had the opportunity to analyze the traditional and alternative investment industry closely," said Mr. Flaherman.  "I believe that, in each of its products - the fund of hedge funds, the traditional long-only equity business, and real estate - Lyrical has charted an uncommon path and, as a result, built an uncommonly value-added client offering.  I'm tremendously excited to join with Lyrical, its people and its products, to help grow a premier asset management franchise."

Prior to joining CalPERS, Mr. Flaherman's professional experience focused primarily on transportation economics.  Since stepping down from CalPERS, Mr. Flaherman has served on the boards of National Medical Health Card Systems, Inc. and Ikaria, Inc. and as a Managing Director and, currently, a Senior Advisor to New Mountain Capital.  He graduated from Harvard College and earned a master's degree from the Massachusetts Institute of Technology.

About Lyrical Partners

Lyrical Partners and its affiliates manage value-centric funds of hedge funds, multi-family housing real estate funds, and value equity portfolios.  The firm was founded in 2004 and is managed by Jeffrey Keswin.  Previously, Mr. Keswin co-founded and served as co-President of Greenlight Capital, Inc.  Lyrical Asset Management was named one of the top value managers in 2009 by Pensions & Investments.  Lyrical Partners was nominated the top US Equities Fund of Funds by InvestHedge in five of the last six years, won that award three times, and was named the top Specialist Fund of Funds by HFMWeek for 2011.

SOURCE Lyrical Partners, L.P.

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