Former Missouri pension LP takes over alternatives at Macalester College

  • Derrick Griffin worked for about nine years on PE at MOSERS
  • Macalester had a 9.3 pct allocation to PE as of June 30, 2015
  • Joined Macalester in February

Derrick Griffin, a former private equity investment officer with Missouri’s state workers’ pension, has joined the Macalester College endowment to run alternatives.

Griffin confirmed the role, which he said focuses on private equity, real estate and hedge funds. A spokeswoman for Macalester also confirmed Griffin’s hiring. He started at the endowment on Feb. 1, he said.

Prior to joining Macalester, Griffin worked as chief investment officer at AEC, a boutique investment firm based in Kansas City, Missouri. From 2003 to 2012, he worked at Missouri State Employees’ Retirement System, according to his LinkedIn profile. He helped run a $2 billion portfolio of real assets and private equity investments, the profile said.

Macalester had a 9.3 percent allocation to private capital as of June 30, 2015, according to the endowment’s website. It is part of the fund’s “Economic Growth” allocation that includes hedge funds and public equities and that totaled 64.8 percent of the fund as of June 30, 2015.

As of June 30, 2015, the total market value of the endowment fund was $762 million, according to the website.

While not a large investor in private equity, Macalester’s investment program was run by another big-name LP for several years. Mansco Perry, executive director of the $78.6 billion Minnesota State Board of Investment, spent about three years as chief investment officer of Macalester’s endowment. Perry joined Macalester from Maryland State Retirement Agency, where he worked as CIO from 2008 to 2010, according to his LinkedIn profile.

Action Item: Check out Macalester College’s asset allocation:

Photo courtesy of Macalester College