National Railroad Trust names new CEO

William Carr, who was named acting CEO and CIO of the $25bn pension fund when Catherine Lynch left, has officially been given those titles.

The Washington DC-based National Railroad Retirement Investment Trust (NRRIT) has named William Carr as its new chief executive and chief investment officer, according to reports.

The $25 billion pension fund named Carr as its interim chief executive officer and chief investment officer in February, when the former CEO and CIO, Catherine Lynch, left the fund.

Carr joined NRRIT as director of US equity in 2010, according to a NRRIT annual report. Before that, he was a senior investment analyst at the District of Columbia Retirement Board for more than eight years. He had also been a vice president and portfolio manager for an emerging market private equity fund.

Lynch was the CEO and CIO of NRRIT between 2003 and 2016, during which she led an investment team of 12 professionals and committed capital to 70 private equity and real estate funds, according to her LinkedIn profile.

Prior to that, she was an associate vice president at the $650 million endowment at The George Washington University, her profile said.

According to PEI Research & Analytics, NRRIT allocates 8.74 percent, or $2.22 billion, to private equity. In the past, it has committed capital to The Fifth Cinven Fund, Advent International Global Private Equity VI, Apollo Investment Fund VII, CVC European Equity Partners V, First Reserve Fund XII and Carlyle Partners V, according to PEI Research.

Requests for comment sent to Carr and NRRIT were unanswered.