Colorado hires alternative investment chief

The Colorado Public Employees’ Retirement Association has hired Chris Reilly to replace Kevin Kester to run its $3bn alternative investment programme.

The Colorado Public Employees’ Retirement Association (PERA), one of the largest US pension funds investing in global private equity funds, has appointed a new head of alternative investments to replace Kevin Kester, who left the association in December.


Denver-based Colorado PERA has hired Chris Reilly, a former investment professional at both Deutsche Bank Securities and Salomon Smith Barney in New York and a member of the Institutional Limited Partners Association.


Reilly, who left the association to become vice president of capital markets for The Broe Companies, was one of three members of the alternative investments team at Colorado PERA. Still at the pension are David Martis and Tim Moore.


PERA provides retirement and other benefits to the employees of more than 380 government agencies and public entities in the state of Colorado. PERA is the 23rd largest public pension plan in the United States with assets of more than $28 billion, with approximately 11 percent, or $3 billion, invested in alternative investments.


General partner groups PERA has backed in the past include The Blackstone Group, CVC Capital Partners and Forstmann Little. It is also an investor in funds managed by HarbourVest Partners