Zac McCarroll and Richard Wiltshire were named managing directors at Private Advisors, a spokeswoman said.
Both positions are new.
Mr. McCarroll, who started July 1, will “provide specialized expertise in long-duration real assets strategies focused on natural resources such as energy, metals, agriculture and supply chain infrastructure,” said a news release from the Richmond, Va.-based alternative manager.
The firm plans to open an office in Austin, Texas, later this year, where Mr. McCarroll will lead development of a real assets investment team. He will report to Christopher Stringer, partner and head of private equity investments.
Mr. Wiltshire, who also began on July 1, will focus on direct equity co-investments. He will report to S.S. “Tripp” Taliaferro III, partner.
Mr. McCarroll previously was the director of natural resources investments at the University of Texas Investment Management Co. Spokeswoman Christy Wallace could not immediately provide information on his replacement.
Mr. Wiltshire had been a senior investment officer for the $65.2 billion Virginia Retirement System, Richmond. Spokeswoman Jeanne Chenault said Mr. Wiltshire’s position has not been filled.
Private Advisors had $5.7 billion in assets under management as of May 31.