Halligan Leaves Crossroads to Retire –

Hanse Halligan, the president and chief investment officer of Crossroads Investment Advisers, will retire at the end of March, the firm said in a written statement.

Mr. Halligan will be replaced as president of the firm by Richard Spencer, and his CIO position will be assumed by an investment leadership team composed of principals of the firm. “Hanse has done an excellent job with the organization,” Mr. Spencer said. “We’ll miss him tremendously.”

Mr. Halligan has been with Crossroads and Bigler Investment Management Co., a portion of which was acquired by Crossroads in 1996, since 1987. Earlier in his career, he held a number of senior management positions with CIGNA Corp., including president of CIGNA Investment Management Co.

The firm, based in Farmington, Conn. and Dallas, invests in small- to mid-size U.S. buyout funds, as well as venture capital and European private equity partnerships through its $310 million fund-of-funds that closed in December.