Rhode Island CIO Leaves For Private Sector

The chief investment officer of Rhode Island’s state pension fund, Kenneth Goodreau, will become CIO of TIG Advisors on Jan. 1, the private New York-based investment manager said, sister news service Reuters reported. The move is the latest in a string of departures by top U.S. pension fund executives for the private sector where salaries tend to be significantly higher than in state governments.

Goodreau helped the $8 billion state fund invest with hedge funds during his six-year tenure. He is the founder of hedge fund Knollwood Capital Management. TIG, with about $2 billion under management, expects to launch new investment strategies when Goodreau ...

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