PA State Employees’ hires alternatives professional

Michael Beblo, former head of private equity at the Alfred l. duPont Testamentary Trust, has joined the system as a director on the alternatives team.

The Pennsylvania State Employees’ Retirement System has hired Michael Beblo, the former private equity head of a charitable trust, to work on the system’s alternatives investment team.

Beblo, who joined the system as a director on the alternative investment team that is led by Lauren Lenfest, formerly worked for seven years as director of private equity at the Alfred l. duPont Testamentary Trust. He joined Pennsylvania State Employees’ Retirement System in August, according to a spokesperson for the system.

At the trust, Beblo managed the more than $1 billion private equity portfolio, including expanding the trust’s exposure to energy, natural resources and distressed securities, according to his LinkedIn profile. Beblo did not return a request for comment.

The Trust’s main beneficiary is The Nemours Foundation, which provides healthcare for children.

Beblo joins as the system is undergoing a major overhaul of its alternatives programme. Earlier this year, Pennsylvania State Employees’ published its 2012-2013 strategic investment plan that outlined its goal of reducing its exposure to the asset class from 27 percent to 14 percent over 10 years.