North Carolina PE LP rejoins Minnesota Board of Investment

  • Ryan Hill returns to Minnesota investment board
  • Not clear when he left North Carolina
  • North Carolina considers PE portfolio sale

Ryan Hill, a private equity portfolio manager at North Carolina Treasury Department, has left and returned to Minnesota State Investment Board.

Hill started at North Carolina in October 2015. It’s unclear when he left the state. A voicemail left for him at the Minnesota board was not returned. A spokesman for the North Carolina treasurer did not return a request for comment.

Hill worked at the Minnesota board from April 2011 to October 2015, according to his LinkedIn profile.

North Carolina plans to trim $100 million of investment costs over four years, Buyouts has reported, citing state documents. The investment program tallied up $600 million of investment costs over the past six years, roughly 85 percent of which came from management and incentive fees paid to external managers, Buyouts reported.

North Carolina also said in documents it was working with Houlihan Lokey to organize a secondary sale of PE interests.

North Carolina’s retirement system had $4.6 billion of private equity assets as of Feb. 28. The portfolio includes stakes in 146 funds and has netted a 7.41 percent internal rate of return since inception.

Action Item: Read North Carolina’s fiscal report here:

The Charlotte, North Carolina, skyline is seen through the window of an airplane ahead of the Democratic National Convention on September 2, 2012. Photo courtesy Reuters/Adrees Latif