Colorado PERA Looks Within To Fill Alternatives Post

Aaron Norton has replaced David Martus as senior portfolio manager in the Alternative Investment Division of the $40 billion Colorado Public Employees’ Retirement Association. Norton’s goal is to build the private equity portfolio, said Katie Kaufmanis, communications director. Martus left to join Pegasus Capital Advisors, after having spent the past eight years as a private equity portfolio manager with Colorado PERA. His new responsibilities include portfolio reporting, compliance and investor relations. He began his new job on July 21.

Norton joined Colorado PERA in 1998 as an investment operations analyst. Two years later he was promoted to the position of analyst in the Equity Investment Department, where he rose to be a senior portfolio manager. Previously Norton worked as a senior fund accountant at Oppenheimer Funds.

The Alternative Investments Division manages Colorado PERA’s private equity portfolio, which includes venture capital, leveraged buyout and special situation funds. In 2007, the LP approved 12 commitments in alternative investments: five in venture capital, four in leveraged buyouts and three in special situations, totaling $700 million. As of Dec. 31, 2007, Colo PERA had 7.7 percent of its portfolio in alternative investments; its allocation target is 7 percent, with a permitted range of 4 percent to 10 percent.