Florida appoints private equity head

Jim Treanor replaces recently departed Frank Fernandez as head of private equity at the Florida state pension.

The Florida State Board of Administration (FSAB) – the fund manager for the fourth largest public retirement system in the US – has appointed insider Jim Treanor to senior portfolio manager and head of private equity investing in the alternative investment asset class.

Treanor replaces Frank Fernandez, who left the more than $100 billion state pension fund to work at Austin, Texas-based private equity consulting firm Alignment Capital, which is in the process of raising a debut fund of funds.

Treanor reports to Bill James, who has been the senior investment officer over the alternative investment asset class for several years. According to a source at the FSAB, Treanor, who previously served as a portfolio manager for alternative investments, was permanently promoted into his new position on a competitive basis. “He was an outstanding employee in his previous portfolio manager position and his promotion is well-deserved,” the source said.