Richard Shafer Joins OPERS

Richard Shafer has joined the The Ohio Public Employees Retirement System (OPERS) as deputy director of investments for external management. He previously was director of investments for the New Hampshire Retirement System and, before that, was chief investment officer of the Alaska Permanent Fund.


The Ohio Public Employees Retirement System (OPERS) today announced that Richard D. Shafer has been named Deputy Director of Investments for External Management.

Shafer brings 30 years of collective investment experience gained in the insurance industry and pension funds. As Deputy Director, he will report to the Chief Investment Officer and oversee a staff of nine. He will work closely with the CIO, senior investment staff and OPERS external investment consultants.

Shafer will have primary responsibility for the development and execution of the investment strategies for private equity, real estate and the utilization of external public managers to meet OPERS investment goals and objectives. He will provide oversight for the day-to-day management of private and externally managed public investments and relationships with OPERS external managers and general partners (GPs). Key responsibilities include the periodic review and monitoring of assigned asset classes’ investment policies, portfolio guidelines and procedures.

Prior to joining OPERS, Shafer was the Director of Investments for the New Hampshire Retirement System and the CIO of Alaska Permanent Fund Corporation. He obtained a Bachelor of Arts degree from Dartmouth College and holds the Chartered Financial Analyst (CFA) designation.

With assets of almost $60 billion, OPERS is the largest public pension fund in Ohio and the 12th largest public pension fund in the U.S. In operation since 1935, OPERS provides retirement, disability and survivor benefits for public employees throughout the state. It serves nearly 936,000 members, including more than 166,500 retirees and beneficiaries.