Jim Treinor will fill the portfolio manager vacancy opened up earlier this month by Frank Fernandez at the Florida State Board of Administration, a $120 billion public pension fund.
Treinor has been tapped to manage a $3.4 billion portfolio of private equity, venture capital and buyout funds and take on a new role as the pension fund’s senior portfolio manager for alternative investments, says Mike McCauley, the pension fund’s director of investment services and communications.
Treinor is an internal hire. He had previously worked under Fernandez as a junior portfolio manager. He will report to Bill James, Florida’s senior investment officer for alternative investments.
Fernandez left the public sector to join Alignment Capital, an Austin-based private equity consulting group that is about to begin fund-raising for its first fund-of-funds. That fund has a target of $300 million. Fernandez is scheduled to start work July 1.
Fernandez is one of many fund managers to get itchy feet recently.
Rick Hayes announced earlier this month he would be leaving the California Public Employees’ Retirement System as of July 1. His replacement has not yet been named. Six months earlier, the Colorado Public Employees’ Retirement Association lost its top private equity portfolio manager, and the State of Wisconsin’s Investment Board bid farewell to its chief investment officer.