Former Wilshire Consulting exec now Rhode Island pension CIO

Rhode Island General Treasurer Seth Magaziner announced the appointment of Andrew Junkin, former Wilshire Consulting president, as the state’s chief investment officer. Since 2015, Junkin served headed Wilshire’s team of more than 80 investment professionals and over his entire 15-year tenure at the firm he worked with public and corporate pension funds, foundations, endowments and insurance companies. At Rhode Island, Junkin replaces Alec Stais, who took the CIO post following his role as managing director at Goldman Sachs Asset Management. Stais reportedly left at the end of May to become CIO at Providence Health & Services in Washington state. Junkin stepped down from his role at Wilshire back in March. Officials reorganized the role to promote Jason Schwarz as a chief operating officer of the consulting firm. “I look forward to working with Treasurer Magaziner, his team, and members of the State Investment Commission,” Junkin said in a statement. “I share their commitment to ensuring that Rhode Island’s pension system continues on its path of long-term growth and stability for our members who have spent their careers serving others.” The $7.9 billion Employees’ Retirement System of Rhode Island recently added more than $300 million to alternative investments. In March’s market collapse, the retirement fund staff found that its crisis protection allocation enacted in 2016 did what it was supposed to do. Rhode Island’s crisis strategy gained 6.5% in March as the overall portfolio declined only -6.7%. The crisis protection strategy is made up of long-duration U.S. Treasury bonds and systematic trend following managers totaling $787 million.

Former Wilshire Consulting exec now Rhode Island pension CIO

Continue Reading With a Free Trial

Pensions, VC firms lead the pack in funding low-carbon ag’s future

Former Bessemer CIO joins Bridgewater

Welcome to Alternatives Watch

Buck hires former AndCo exec for manager research

Hybrid VC Firm rolls out second cannabis fund

Finding the single source of truth in private equity data

CalPERS taps PE expertise from Alaska Permanent

QuadPay scores direct lending deals from Goldman Sachs, Oaktree

Blackstone PE arm sells Cheniere stake

Yale endowment returns 6.8%

Most hedge funds see inflows in August

Continue Reading With a Free Trial

Be an Alts Watcher

Subscribe to our mailing list and know first!

Blackstone goes to Hollywood with latest purchase

University endowment office updates trustees on nine alts allocations

Related Articles

Get our daily news digest in your inbox

Get our daily news digest
in your inbox