Jason Price, the Principal Investment Officer of Private Equity for the Connecticut Retirement Plans and Trust Funds, has resigned.
In an email sent today, Price said he will leave his position at the storied pension fund to join CIGNA Corporation, an employee benefits company. The State of Connecticut will continue with its retention of Brad Atkins at Franklin Park as a consultant for its private equity investment program.
Price wrote, “The past three years working at the state has been an incredible period of personal and professional growth, and I thank you for helping to make it such a meaningful experience.”
The $22 billion Connecticut Retirement Plans and Trust Funds has experienced a bit of a revolving door of professionals ever since the early 00’s, when the State’s Treasurer, Paul Silvester, was convicted racketeering and bribery. Even before that, the office was “no island of stability,” as every Connecticut treasurer since 1958 had left the office midterm, according to a 2001 Pensions & Investments article. Silvester’s successor, Denise Nappier, remains the State’s Treasurer, but the pension fund has seen a number of investment officers depart, including Gregory Franklin, Gary Cartner, Thomas Flanigan, and Susan Sweeney, who left in 2007.
I’ve put a call in to Price’s office and will update if I hear more details.
PS. If you want more details on the history of the State of Connecticut, you can check out this vintage PE Week Wire coverage from the fund’s 2004 legal battle with Forstmann Little.