Multi-asset class funds management of $6.5 billion in defined benefit and defined contribution plan assets plus a $200 million captive insurance fund. One fund manager direct report in a three person department. Secretary to the GP investment committee (CEO, CFO, Treasurer, VP Pension Investments) and participated in investment committee deliberations.
Performed ongoing external manager research and due diligence on 40+ external managers across traditional and alternative asset classes as a generalist. Provided oversight on a prime broker, a master custodian, a securities lending agent and multiple transition managers.
Created the asset allocation and external manager allocation models used by the department. Managed the department's investment risk management program (see paper on Managing Risk, at right).
Managed the department’s cash equitization program with $100 million in discretionary futures trading authority. Futures program cost effectively maintained plan asset allocation policy and was used for risk management purposes.
Effort allocation: 30% manager research & due diligence, 30% asset allocation, manager allocation, risk management and cash management, 20% market and investment performance analysis, 20% thought leadership, research and reporting.
Defined benefit plan outperformed its policy benchmark by 83 basis points net of fees and expenses during my tenure while beta (risk) declined from 1.1 to 1.0.
Defined benefit plan outperformed its policy benchmark each year during my tenure.
Georgia Pacific was taken private by Koch Industries of Wichita, KS in 2006. In 2009 Koch consolidated all of its various pension investment operations onto a shared services platform located in Scottsdale, AZ. During the 4th quarter of 2008 I transitioned GP’s defined benefit plan assets to a shared investment services platform with Koch Industries with effect in early 2009. None of the investment professionals in Atlanta were retained in the consolidation.