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Joncarlo Mark
Founder & Managing Member at Upwelling Capital Group


Joncarlo R. Mark is founder of Upwelling Capital Group LLC, an investment adviser that provides capital solutions to premier institutional investors.  Prior to forming Upwelling in 2011, Joncarlo was a Senior Portfolio Manager in the Alternative Investment Management (AIM) Program at the California Public Employees Retirement System (CalPERS).  CalPERS is the largest US public pension fund, with over $300 billion in overall assets.   Joncarlo was a part of the senior leadership team responsible for investing in global private equity partnerships and direct investments, with a portfolio that exceeds $48 billion of invested and committed capital. During his tenure, Joncarlo represented CalPERS on multiple fund advisory boards and held board observer seats for several AIM portfolio companies. From 2007 to 2010, Joncarlo served as Chairman of the Board for the Institutional Limited Partners Association (ILPA), whose 250-member institutions at the time managed more than $1 trillion of private equity capital. He continues to serve as a faculty member for the ILPA Institute, which provides executive education to its membership.  Joncarlo is currently a trustee for the University of California Davis Foundation and is chairman of the Finance and Investment Committee.  From 2012 to 2018, he was also on the Board of Directors for AltExchange Alliance, an industry group dedicated to implementing standardization of financial reporting in private equity.  Joncarlo was also an advisory board member for the Private Capital Research Institute (PCRI), a non-profit that works to further the understanding of the economic impact of private capital through independent academic studies.   Prior to joining CalPERS in 1999, Joncarlo spent six years with Premier Farnell PLC, a global industrial products manufacturing and distribution company.  Joncarlo earned an MBA from the Graduate School of Management at UC Davis and received a BA from UC San Diego.

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