The Pennsylvania State Employees’ Retirement System has promoted Jeffrey Burton to manage its alternative assets portfolio, according to PA SERS' spokeswoman Pamela Hile. He started at the position on 30 July.
As a portfolio manager, Burton will monitor the existing alternative investments portfolio and evaluate new and follow-on investment opportunities.
Burton has worked for PA SERS as an associate portfolio manager for alternative investments since 2006. There are no immediate plans to fill Burton’s previous position, Hile said.
Prior to joining PSERS, he had been a student at the Shippenberg University of Pennsylvania, according to his LinkedIn page.
Burton will work under Lauren Lenfest, who replaced Bruce Feldman as managing director of the $26 billion retirement system in June. Lenfest oversees PA SERS’ venture capital and private equity investment programmes. She had previously been co-director of alternative investments.
PA SERS reported 4.7 percent earnings for its portfolio in the first quarter of the year, adding $1.2 billion to the Fund, according to its website. Pennsylvania documents indicate that PA SERS holds more than 25 percent, or $6.5 billion, of its assets in alternative investments.