Francie Heller was named a managing director at Houlihan Lokey and leader of a new pension fund consulting business.
Ms. Heller will focus on building relationships with corporate and public pension funds, endowments and foundations. In an interview, Ms. Heller said Houlihan Lokey’s new pension services business differs from competitors in that it does not also invest assets.
Last year, Houlihan Lokey assisted the $209.1 billion California Public Employees’ Retirement System, Sacramento, in reviewing the performance of the system’s private equity portfolio, which led to an agreement between CalPERS and Apollo Management to cut fees.
Ms. Heller was a managing director of pension fund solutions at hedge fund Chilton Investment. Her duties were assumed by other company executives and outside consultants, said Jim Steinthal, general counsel.