Opalesque Industry Update - Larry Powell, who since 2008 had been Deputy CIO of the Utah Retirement Systems, today announced his resignation to focus on the next chapter of his career, where he will be looking for opportunities in the private sector (Foundations/Endowments or Family Offices). |
He said, "With over 30 years in the business and almost 6 years at Utah, it is time for me to move on as I have essentially worked my way out of the job I was brought to Utah to undertake. I am sure my team will miss me as I know I will miss them, however, I feel like I have left Utah in good standing with a strong investment program and proud to say I helped them get to where they are today."
The Utah Retirement System (URS) is a public pension plan created by the State of Utah legislature to manage the retirement benefits of all public employees in the State of Utah. At most recent quarter end, the Plan’s assets exceeded $22 billion with 60% of the Plan’s assets invested in traditional equities and bonds and 40% spread across private equity, hedge funds and real estate. A total of 17 investment professionals oversee the investment and management of the Plan’s assets.
Before joining URS, Powell was Managing Director External Public Markets at the Teacher Retirement System of Texas, and before that Chief Investment Officer at Rohden Capital/Funds Management.
In 2009, Utah Retirement Systems was named "Public Plan of the Year", and Powell was presented with the "Most Significant Contribution to Hedge Funds for the Year" Award in 2009 by II Magazine for his work with Alignment of Interest.