The private equity head at Tennessee’s $37bn Consolidated Retirement System is reportedly planning to step down in June to manage capital at his family’s business.
Lamar Villere, pictured, has been director of private equity at the LP since 2009, a year after the state’s legislature gave the green light to the fund investing in the asset class according to Buyouts.
He was previously a senior investment officer for four years at the Illinois Teachers’ Retirement System working on private equity and hedge fund investments.
Buyouts added that Villere would be replaced by TCRS private equity analyst Daniel Crews on an interim basis, adding that the hunt for a replacement.
Villere will become a portfolio manager at New Orleans-based Villere & Co, which has about $2bn under management but does not invest in alternative assets.
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