Wisconsin State Investment Board, Madison, merged its $1 billion Opportunity E high-risk portfolio with its $1.2 billion private equity portfolio, said Vicki Hearing, spokeswoman for the $55 billion system. Jim Gannon, investment director for private equity, was named managing director of the $2.2 billion portfolio. It is a new position.
Mike Wagner, manager of the Opportunity E portfolio, will remain with the system in a role that has yet to be determined.
The move was recommended by consultant McKinsey & Co., which the system hired to study the two portfolios; the system does not have a retainer consultant.