Nebraska names acting CIO; may see Wynnchurch commitment cut

  • Jeffrey States to retire Oct. 3
  • Joseph Jurich elevated to acting CIO
  • Commits $30 mln to popular Wynnchurch fund

The council also approved a $30 million commitment to Wynnchurch Capital’s latest buyout fund, which has a $1 billion hard cap, States said. The fund is earmarked for mid-market buyout and distressed investments. Although the council approved up to $30 million for Wynnchurch Fund IV, the size of its commitment may be smaller as the fund will likely be oversubscribed, States said. The firm declined comment.

The investment council, which managed $21.6 billion in assets as of June, plans to name a permanent successor to the state investment officer post in early to mid-October, States told Buyouts

In addition to elevating Jurich to the role of acting state investment officer, the investment council also reviewed its private equity pacing for the 2015 calendar year, States said. Nebraska intends to continue to commit at the same pace as it has in previous years, allocating roughly $150 million across approximately five funds.

The investment council committed approximately $85 million at its Sept. 25 meeting, States said.

Along with the Wynnchurch fund, the investment council approved a 20 million euro ($25.4 million) re-up to Bridgepoint Europe V. Bridgepoint Capital is targeting 3.5 billion euros with a 4 billion euro hard cap for investments in European mid-market companies.

The council re-upped another $30 million to Quantum Energy Partners VI, which is targeting $2.5 billion with a $3.25 billion hard cap for investments in upstream energy companies. Quantum Energy Partners had raised $1.17 billion for Fund VI as of earlier this summer, according to a July 1 report from sister publication peHUB.

The Nebraska Investment Council manages investments for 30 Nebraska entities, including its general endowment fund and defined benefit plans for state employees. 

Prior to joining the Nebraska Investment Council in 2009, States served as the CIO of the Sacramento County Employees’ Retirement Systems and the director of investments at the New Mexico Public Employees’ Retirement Association, according to his LinkedIn profile.