Industry News
North Carolina Governor Josh Stein has signed the 2025 Investment Modernization Act, according to an announcement from State Treasurer Brad Briner’s office. Stein’s signing of House Bill 506 shifts sole responsibility of the investment decisions for the $126.5 billion North Carolina Retirement Systems from Treasurer Briner to a newly created, multi-member investment authority. The North Carolina House passed the bill at the end of April and the authority to manage investments is expected to transfer to the new board beginning on Jan. 1, as reported. North Carolina was one of only three states utilizing a sole fiduciary governance model. The five-member investment authority board will be chaired by Treasurer Briner and be comprised of financial professionals appointed by him, legislative leaders and the governor, according to the announcement, which notes that the board “will rebalance asset allocation and identify strategies to improve the performance and returns of the $127 billion pension plan, which has underperformed for years.”

North Carolina Governor Josh Stein has signed the 2025 Investment Modernization Act

07.02.25
In The News
MacArthur Taps Boeing For Staffer

The John D. and Catherine T. MacArthur Foundation has hired Joe Ragsdale as a manager of fixed-income and alpha strategies to oversee fixed-income investments within its approximately $8.6 billion investment portfolio.

07.02.25
UVIMCO Hires Managing Director
Industry News
UVIMCO Hires Managing Director

The University of Virginia Investment Management Company has hired Jason Chang as a managing director to help oversee public equity assets within its approximately $14.3 billion investment portfolio.

07.02.25
Acansa Names Chief Global Strategist
Industry News
Acansa Names Chief Global Strategist

Acansa Investment Management Group has named Sam Gallo as chief global strategist

07.02.25
In The News
YMCA Adds MD For Public Equities

The YMCA Retirement Fund has hired Summer Zhao as a managing director overseeing assets across its approximately $9.2 billion portfolio, with an initial focus on public equities.

07.02.25
News
FIN News, New America Alliance Launching New Profile Series

FIN News and Emerging Manager Monthly have kicked off a new series with the New America Alliance.

06.04.25
Strategic Adds Managing Directors
Industry News
Strategic Adds Managing Directors

Outsourced cio firm Strategic Investment Group has added managing directors from a mid-Atlantic retirement system and the investment management arm of an aerospace and defense company.

06.04.25
Utah Fund Selects Deputy CIO
Industry News
Utah Fund Selects Deputy CIO

The Utah School & Institutional Trust Funds Office has hired Angelique Pappas as its next deputy cio.

06.04.25
Searches
Illinois Muni. Increases Target

The $56.1 billion Illinois Municipal Retirement Fund agreed to increase its target for assets managed by minority- and/or women-owned firms last week.

04.02.25
Industry News
CalPERS Deputy CIO Departing

Dan Bienvenue is departing his role as deputy cio of capital markets at the California Public Employees’ Retirement System to join General Atlantic as a managing director,

04.02.25