Keith Bozarth, executive director of the $80 billion State of Wisconsin Investment Board, announced plans to retire in 2012, the extra time being needed to allow SWIB to find a replacement and help with a transition, according to a press release.
Wisconsin runs one of the nation’s largest private equity programs. The system’s current private equity target is 7 percent, and SWIB manages about $5 billion in invested private equity capital.
In a statement, the chairman of SWIB’s board of trustees, Jim Sentry, said, “We are sorry to see Keith leave, but appreciate his many accomplishments,” adding, “SWIB has accomplished a great deal (under Bozarth), including increasing its internal management of funds from 21 percent to 55 percent and revising its risk management process. These accomplishments have helped SWIB remain a model organization with an outstanding reputation.”