LP ‘institution’ Kruzel to retire from WSIB

Longtime limited partner Janet Kruzel is retiring from Washington State Investment Board at year’s end, spokesman Chris Phillips confirmed.

Kruzel was assistant senior investment officer on the eight-member private equity team. The team is led by Senior Investment Officer Tom Ruggels. WSIB Chief Investment Officer Gary Bruebaker said the system will start recruiting for an investment officer in the new year.

Kruzel is considered an “institution” in the private equity LP community, one prominent LP said. Another LP said: “The industry is going to miss Janet. She’s one of the good ones. Wonderful person, wealth of knowledge, doing things the right way.”

“Janet has been a tremendous asset to the WSIB and has served the retirement fund beneficiaries well. We will miss her dedication as well as the outstanding relationships she has built over the years. We wish her well in her retirement,” Bruebacker said in an email statement.

Kruzel has been at the Washington investment board for 13 years, joining from Kansas Public Employees Retirement System, according to a 2003 statement from Washington. She was at the Kansas pension for 12 years before joining Washington, focusing on PE, the Washington statement said.

Washington’s team is responsible for more than $17 billion of assets based on market values as of Sept. 30, 2016. That’s about a 20 percent allocation within the $84 billion retirement-fund portfolio the investment board manages, Phillips said in an email.