Oregon LP Andy Hayes to leave pension system

  • Oregon’s Hayes to join FIRSTavenue placement agency
  • Worked as a private equity officer since 2008
  • Led PE program’s expansion into Asia

Andy Hayes, a private equity investment officer with the Oregon State Treasury, is leaving the system for the private sector, James Sinks, a spokesman for the Treasury, confirmed for Buyouts.

Hayes is taking a role at placement agency FIRSTavenue, a source said. He will start at the placement agency at the beginning of the year as sa principal, said Ayesha Mahomed, a spokeswoman for FIRSTavenue. Last month, FIRSTavenue hired Dan Rudgers as a principal based in New York. Rudgers worked at Lazard in the private advisory group for eight years.

Hayes worked on PE for Oregon since 2008. Prior to his private equity role, he was a public equity analyst for the Treasury. He also spent three years as an analyst at RV Kuhns & Associates.

At Oregon, Hayes led the buildout of the system’s PE program in Asia, among other things, Sinks said.

It’s also unclear whether Oregon has someone in mind to take over Hayes’s role. As of now, no successor has been named, Sinks said.

Oregon’s PE portfolio was valued at about $13.7 billion as of Sept. 30 and is managed by Michael Langdon. The private equity team consists of three investment officers. It is part of the broader alternative investment program, including private equity and real estate, which is overseen by Director of Alternative Investments John Hershey.

Update: This story has been updated with additional information from FIRSTavenue.

Action Item: Oregon Investment Council’s latest meeting material: https://www.oregon.gov/treasury/Divisions/Investment/Pages/Oregon-Investment-Council-(OIC).aspx#2016

Hundreds of sea lions lay on marina docks in Astoria, Oregon, on March 29, 2015. Photo courtesy Reuters/Steve Dipaola