Bolcar joins PE team at North Carolina Treasury

Brian Bolcar, former private equity official with the Virginia Retirement System, joined the North Carolina Treasury as a private equity portfolio manager, according to a spokesman for the system.

Bolcar started on June 1, according to spokesman Schorr Johnson. The treasury now has four people who work on private equity, including Director Craig Demko, who leads the group.

It’s not clear how long Bolcar worked at the Virginia Retirement System. He left in January 2014 and joined placement agent SixPoint Partners in a newly created role to focus on the southeastern United States and some other regions, PEI reported at the time. It’s not clear when Bolcar left SixPoint.

The treasurer’s office, which manages investments for the $104 billion North Carolina Retirement Systems, has a 6 percent target allocation to private equity, and had an actual allocation of 4.7 percent as of June 30. North Carolina’s private equity portfolio was valued at about $4.2 billion as of June 30, Johnson said.

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