Lamar Villere was named director of the new private equity investment program at the $25 billion Tennessee Consolidated Retirement System, Nashville, effective in mid-February, confirmed CIO Michael Brakebill.
The position is new. Mr. Villere will be in charge of implementing a 3% target private equity allocation that was authorized last June.
Mr. Villere is senior alternative investment officer at the $29.9 billion Illinois Teachers' Retirement System, Springfield. Spokeswoman Eva Goltermann said the system will launch a formal search to replace Mr. Villere as soon as possible.
“Lamar has served TRS' private equity program well, and we appreciate all the hard work he has performed for our system,” Stan Rupnik, Illinois Teachers CIO, said in a news release. “TRS is confident that Lamar's knowledge and expertise of the asset class will greatly benefit the Tennessee Consolidated Retirement System as it builds its private equity program.”