Callan, a leading independent institutional investment consulting firm, named Pete Keliuotis director of Public and Private Markets Research, effective June 15, 2026, in a newly created role designed to consolidate oversight of the firm's research and technology operations. Keliuotis, 57, who holds the CFA designation and serves as executive vice president and head of Alternatives Consulting, will oversee the firm's global manager research, alternatives and real assets research, and research technology operations spanning over 30 professionals. He will report to Chief Executive Officer and Chief Research Officer Greg Allen, who will directly oversee the Capital Markets Research group in a realignment of the research function. The appointment signals Callan's emphasis on integrating its expanding alternatives and public markets research capabilities as institutional investors increasingly allocate to private assets.
The promotion reflects continuity in Keliuotis' long tenure at Callan while broadening his mandate. Since joining the firm in January 2019, he has built out the alternatives consulting practice to 16 consultants and research specialists with an average 17 years of industry experience, supplemented by recent senior hires including Francis Griffin as senior private credit research consultant in October 2024. In announcing the move, Allen praised Keliuotis' track record, stating that he would "strengthen collaboration across the research platform, foster technology innovation and adoption, and make sure we have the focus and capabilities needed to meet our clients' evolving needs." Keliuotis noted his intention to improve integration across research and consulting groups while advancing operational efficiency. No external search firm involvement was disclosed in the announcement.
Keliuotis brings more than 35 years of investment and consulting experience spanning multiple asset classes. Before joining Callan, he served as senior managing director at Cliffwater, advising institutional clients on alternative investment portfolios with emphasis on private assets and alternative strategies. Prior to that, he was managing director and CEO of Strategic Investment Solutions, where he led consulting teams focused on general and private markets. His earlier career includes senior roles at Mercer Investment Consulting as principal and senior consultant, and positions at Hotchkis and Wiley in Los Angeles and Northern Trust in Chicago. He earned an MBA in analytic finance from the University of Chicago Booth School of Business and a BS in economics from the University of Illinois at Urbana-Champaign. Keliuotis serves as a shareholder at Callan and is a member of the firm's Management Committee and Client Policy Review Committee.
Callan was founded in 1973 as an employee-owned firm and ranks among the largest independent investment consulting firms in the United States, advising more than 400 institutional clients with combined assets exceeding $3 trillion. Based in San Francisco with offices across six U.S. locations, the firm serves pension and defined contribution plan sponsors, endowments, foundations, independent investment advisers, and asset managers. Allen, who assumed the CEO role in 2017 after rising through research and operations leadership, oversees the firm's fund sponsor consulting, trust advisory, database services, operations, and research and education divisions, including the Callan Institute, an industry-recognized publisher of investment research and educational content. In recent years, Callan has substantially expanded its alternatives research capabilities in response to institutional demand, with the alternatives consulting group expanding significantly since 2019.
The appointment suggests Callan is positioning its research function to accommodate the structural shift toward private markets allocations occurring across institutional portfolios. By consolidating research oversight under Keliuotis while creating a direct reporting line from Allen to Capital Markets Research, Callan appears intent on ensuring tighter coordination between its proprietary research and consulting operations at a time when blending public and private market perspectives has become strategically important. The move may also reflect succession considerations within the firm's research leadership; the specific focus on research technology adoption implies Callan views modernization of its analytical infrastructure as central to competitive positioning in an increasingly data-intensive consulting market. Industry observers may view the appointment as a test of whether former consulting heads can effectively lead research functions, particularly given the operational complexities of managing technology platforms alongside traditional manager research roles.
