South Carolina PE chief joins consultant

Hilary Wiek, who joined the South Carolina Investment Commission in 2007, will work in public equities at consultant Rogerscasey.

Hilary Wiek, an investment manager in private and public equities at the South Carolina Retirement System Investment Commission, joined consultant Rogerscasey last month.

Wiek will primarily work in public equities at Rogerscasey, according to Chris Thompson, managing director of the Alpha Investment Research Group. She may also help out with private equity on an as-needed basis.

Wiek joined the South Carolina Investment Commission in 2007 and in 2008 she was promoted to director of public and private equities. Her duties will be spread out among the existing team, according to a source with the commission, and it’s unclear if someone else will be hired to take Wiek’s place.

South Carolina’s retirement system, with about $25 billion in assets as of 31 December, 2010, had a 9.3 percent allocation to private equity.

The pension had considered forming an external management firm called Devco to run the system's private equity investments. The system was prepared to launch the firm in 2009, but the state's governor put the proposal on hold for further review, and eventually the idea was terminated.