Denver Public Schools Retirement System postponed its search for a new executive director until mid- to late May, confirmed John MacPherson, interim executive director. The $2.5 billion plan initiated its search after Robert Scott announced his retirement in October; he left Dec. 31. Mr. MacPherson, former communications director for the Denver school system, said a candidate had been selected last month but he declined to take the job. Mr. MacPherson said the plan would likely reopen the search near the end of the state legislative session, giving lawmakers a chance to clarify issues surrounding the stalled merger between the system and the $30.6 billion Colorado Public Employees Retirement Association. Talk broke down over cost differences in October. Updates on the search are available on the system's website, www.dpsrs.org. EFL Associates is assisting.
Peter Harrison was named CEO of London-based hedge fund manager MPC Investors. He is replacing Mark Hadsley-Chaplin, who will remain MPC's chairman, said an MPC spokesman who asked not to be identified. Mr. Harrison was global CIO at Deutsche Asset Management. He resigned in July before the sale of DeAM's London investment operations to Aberdeen Asset Management. Michele Allison, a DeAM spokeswoman, said the firm declined to comment on Mr. Harrison's replacement.
Morty Schaja, president and COO of Baron Capital Group, and Mitch Rubin, portfolio manager of the Baron Fifth Avenue Growth and iOpportunity funds, are leaving the firm in April to start an as-yet-unnamed hedge fund, Mr. Schaja said. The new company, to be based in New York, will use a core investment strategy that invests in growth companies on a longer-term investment horizon than most investors, with the additional opportunistic bets permitted within a hedge fund, Mr. Schaja said. Recruiting is going on now to build an investment team and support staff with the expectation that the fund will launch in the summer, he added. On March 3, Ronald Baron, CEO and president of Baron Funds and chairman and CEO of Baron Capital Group, assumed management of the $96.5 million Baron Fifth Avenue Growth Fund with portfolio managers Andrew Peck and Cliff Greenberg, while Mr. Baron and Michael Lippert, a portfolio manager promoted from analyst, are managing the $146 million Baron iOpportunity Fund, according to a statement on Baron Capital's website. Messrs. Pack, Greenberg and Baron will keep their existing mutual fund management assignments. The firm is searching for a new portfolio manager for the Baron Fifth Avenue Growth Fund, according to the statement. Mr. Baron didn't return a call seeking more information about Mr. Schaja's replacement.