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Maryland State Retirement hires new executive director
Maryland State Retirement hires new executive director
Martin Noven
Martin Noven has been named executive director of the $65.5 billion Maryland State Retirement & Pension System, Baltimore.
Mr. Noven, who resigned as executive director of the $22.1 billion Illinois State Universities Retirement System in February, will take over July 1 for
R. Dean Kenderdine, who will retire June 30, the system announced Wednesday.
“I am excited to work with an exceptional team to deliver hard-earned retirement benefits to Maryland workers,” Mr. Noven in a news release. “The Maryland State Retirement Agency is nationally recognized as a well-run public pension plan and it is indeed an honor to be selected to take the helm of this fine organization.”
Illinois SURS commits $30 million to real estate fund
Illinois State Universities Retirement System, Champaign, committed up to $30 million to Newport Capital Fund III.
The $22.1 billion pension fund s board approved the commitment to the closed-end, non-core real estate fund managed by
Newport Capital Partners at its April 22 remote meeting, a news release said Monday.
SURS had previously made commitments to Newport Capital Fund I in 2012 and two other co-investment funds in 2018 and 2019, the news release said. The amounts of the previous commitments were not provided.
SURS actual allocation to non-core real estate is 2.2%; the target is 4%.
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In 2018, the Los Angeles County Employees Retirement Association began asking prospective asset managers about diversity.
The questionnaire given to managers that responded to LACERA’s requests for proposals asks for details on who implements firm diversity policies, how many confidential settlements or non-disclosure agreements are related to workplace sexual harassment or discrimination, and whether firms conduct a pay disparity analysis.
LACERA is not the only asset allocator to make diversity and inclusion questions an explicit part of the request for proposal and search process. For instance, in current requests for proposals both the Illinois State Universities Retirement System and the Ohio Public Employees Retirement System included questions on diversity.
Illinois SURS adds Torchlight to real estate manager line-up ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.