The Evolving Asset Owner: New Tools for a New Regime

CAIA Association is a global network of forward-thinking investment professionals, redefining the future of capital allocation in a world where traditional and alternative investments are converging at an unprecedented pace. United by a commitment to improving investment outcomes, we lead with authority, educate to inspire, and connect people who turn insight into action. CAIA Association creates dynamic and captivating learning experiences designed to engage investment professionals at every level. Its programs – the CAIA Charter and the CAIA.nxt™ platform – offer critical levels of access to a comprehensive curriculum that equips the investment community with the skills and knowledge needed to build modern portfolios. CAIA Association is a global member-driven community of more than 14,000 professionals, united by a shared commitment to improving investment outcomes and building a more aligned, principled capital market system.

Molly Murphy has more than 30 years of investment experience and currently oversees the investment portfolios as Chief Investment Officer (CIO) of the Orange County Employees Retirement System. Ms. Murphy joined OCERS in 2017 after many years as CIO of a non-profit health system. Prior to that role, with a background in trading and portfolio management, Ms. Murphy was the co-founder and CIO of a boutique investment firm serving the bespoke needs of institutional fixed income investors. She is a graduate of Miami University and Xavier University and is a CFA charterholder. Under her direction, OCERS was awarded the 2018 Public Pension Plan of the Year in the Small Plan category. As Chief Investment Officer of OCERS, Ms. Murphy has been named to the 2020 All-Star Chief Investment Officers list by Trusted Insight and the 2021 Global Top 50 Women in Investment Management by Institutional Investor. She was awarded the 2021 CIO Industry Innovation Award for Public Defined Benefit Plans ranging from $21 billion to $99 billion, and in 2021, 2022, and 2023, she was named to the Power 100 List by CIO Magazine, recognizing the top CIOs from across the globe. In 2023, Ms. Murphy was named to the prestigious Forbes 50 Over 50 List, recognizing the career achievements of women leaders in the areas of Innovation, Impact, Investment, and Lifestyle. Ms. Murphy is a sought-after speaker at industry conferences, such as the Women’s Private Equity Summit, Institutional Investor Public Funds Forum, SACRS, and the Milken Institute Global Conference.

Scott Chan has been the Chief Investment Officer of CalSTRS since July 2024. Joining CalSTRS in August 2018 as Deputy Chief Investment Officer, he leads an investment staff of more than 200 and oversees a portfolio valued at $369.6 billion as of July 31, 2025. Chan has extensive experience as a financial executive overseeing a wide range of investment strategies at large-scale plans, across all assets and geographies. Prior to joining CalSTRS, Chan was Senior Managing Director of the University of California (UC), where he oversaw the $55 billion global equities portfolio across the university’s pension fund, endowment, and working capital pools. While at UC, he sat on the investment committees of the Los Alamos and Livermore National Laboratories defined benefit and defined contribution pension plans. Chan also served as Chief Investment Officer for the Sacramento County Employees’ Retirement System and was a partner and portfolio manager for several hedge fund partnerships, where he gained direct investing expertise. Chan is a board member of the Toigo Foundation, co-chair and board member of the Institutional Investors Roundtable, and serves on the Milken Institute’s Executive Council for Diversity, Equity, and Inclusion in Asset Management. He’s also on the advisory boards of the Alternative Investment Management Association, Chartered Alternative Investment Analyst Association, The Investment Diversity Exchange, the Alternative Investors Forum, Institutional Investor’s Public Funds Roundtable, and the Kroner Center for Financial Research. Chan holds a Master of Business Administration (MBA) from Duke University’s Fuqua School of Business and a bachelor’s degree in economics from the University of California, Los Angeles. He is a CFA charterholder.