Daily Feed
The west coast firm has agreed to acquire a trust company providing private trustee and investment management services to high-net-worth individuals and families, local foundations and endowments.
The new hire worked for more than two years as an investment officer on the private equity team at the Washington State Investment Board.
The firm hired a philanthropic director to help organizations with board governance and dynamics, grantmaking, fundraising and high-impact investing.
New strategic asset allocation approved last week increases targets to private equity and non-core fixed-income, including high-yield bonds and bank loans.
He served as a voting trustee for over 20 years and served on the executive and investment and endowment committees.
Plan added a $50 million U.S. small-cap growth equity mandate with an existing manager relationship this month.
Terminated firm had been placed on watch for performance reasons last month.
Plan staff is seeking board approval of direct lending and core-plus real estate commitments this week.
The plan is allowed to invest up to 7.5% of total assets into the new asset class.
Sriram Lakshminarayanan was appointed cio of the $40.8 billion Iowa Public Employees Retirement System in January after serving as the plan’s chief risk officer since 2014. He took the time to answer 5 questions with FIN News.
