Illinois State Universities Retirement System, Champaign, hired Pantheon Ventures to replace Van Wagoner Capital Management as investment adviser for the system's $25 million private opportunities fund, said Dan M. Slack, interim executive director of the $13.7 billion system. The fund invests in private equity and so-called private investments in public equity, he said.
System officials made the change because of organizational issues with Van Wagoner, he said. "We have great respect for Garrett Van Wagoner's investment skill," Mr. Slack said of the company's president. "The change wasn't because of performance."
Ennis Knupp assisted.