Connecticut Retirement Plans and Trust Funds has hired a new principal investment officer for private equity, following a nearly two-year vacancy of the position, Private Equity International has learned.
CRPTF hired Wei Huang as the private equity PIO this month to replace Terrence Purcell, who left the pension fund in July 2015 to join New York-based alternative investment firm Permal Group, according to the Connecticut treasurer’s office.
In his new position, Huang will oversee all private market investments in private equity, with a net exposure of $2.77 billion. This represents 9.5 percent of total assets, which stood at $29.2 billion as of 30 June.
A representative of the office told PEI Huang is one of two PIOs at the Hartford-based pension fund. The other PIO is Joanne Beatty Dombrosky, who has been at CRPTF since 2008 and focuses on fixed income.
The person added that there are four other individual PIO vacancies at the pension fund: for alternative investments, which includes real assets and hedge funds; for risk management; for public equity; and for real estate. There is no timeline to fill these roles.
CRPTF is also looking to fill the chief investment officer position, after Deborah Spalding left to become a managing director at investment manager Commonfund, as reported by PEI last month.
Huang has had various experiences as a limited partner. Prior to joining CRPTF, Huang was a vice president overseeing alternative and public equity investments at Wisconsin-headquartered Sentry Insurance, his LinkedIn profile indicated. He had also been a private equity investor officer at Oregon State Treasury between 2004 and 2007, and began his career as a senior associate at Morgan Stanley Investment Management.