Ty Powers was named investment director for the North Carolina State Treasurer Department’s investment management division, Treasurer Brad Briner announced March 19.
It is a new position.
“Ty has a strong background in investment management, including previously working here at the state level. He will serve a critical role as we continue to re-align our long-term investment objectives, including eliminating our pension deficits,” said Briner, who took office in January, in a March 19 news release.
The state treasurer serves as the sole trustee of the $127 billion North Carolina Retirement Systems, Raleigh.
Powers will “manage the multistrategy asset class, including customized partnerships, direct investments and co-investments,” and report to CIO Kevin SigRist, according to the news release.
Powers previously was director of asset allocation at investment advisory firm Investors Trust Co. Prior to that, he served as a portfolio manager in the Treasurer Department’s investment management division, with a focus on credit, real assets and multistrategy investments, the news release said.
Powers holds a bachelor’s in economics from Washington & Lee University and an MBA with an investment management concentration from the University of North Carolina at Chapel Hill. He also holds the chartered financial analyst designation, according to the release.
