B>Leon Shahinian has been promoted to senior investment officer for the alternative investment management program at the California Public Employees? Retirement System (CalPERS). He replaces Rick Hayes, who left last month to launch a fund-of-funds practice for Oak Hill Capital Management. CalPERS is believed to be the world?s largest institutional investor in private equity, with approximately $20 billion in committed capital. Shahinian joined CalPERS in August 1998. Before that, he co-managed a $1.5 billion fixed-income portfolio for Foundation Health Systems in Sacramento, Calif.?D.P.

Andy Marcuvitz has left his general partner post with Waltham, Mass.-based venture capital firm Matrix Partners. The news was first reported by Mass High Tech. Prior to joining Matrix in 2000, Marcuvitz co-founded Apollo Computer and served as its vice president of R&D.?D.P.

The Greater Philadelphia Venture Group has appointed four new members to its board of directors: Sherrill Neff, managing partner with Quaker BioVentures, has been elected chairman; Michael DiPiano, managing partner with NewSpring Ventures, will serve as president; Barbara Dalton, managing partner with EuclidSR Venture Partners, will serve as vice president; William Molloie, a partner in PricewaterhouseCoopers? Technology InfoComm and Entertainment Practice, has been elected to a second term as treasurer.?C.B