The Indiana Public Retirement System (INPRS) has named Scott Davis the new chief investment officer.
Davis was promoted from his most recent position as INPRS' deputy CIO and had been an interim CIO since September, the $29.9 billion pension said.
His current deputy CIO role will be filled by Bo Ramsey, who most recently served as director of private equity at the pension. A spokesperson for INPRS told Private Equity International that Ramsey will keep his director role in addition to the new position.
As one of the top 100 pension funds in the US, INPRS allocates 13 percent of its nearly $30 billion fund to private equity, at $3.2 billion, according to PEI Research & Analytics. This year, it has committed $60 million to Parthenon Investors V and $56 million to Vista Foundation Fund III, according to PEI data.
Davis is replacing former CIO David Cooper, who left the pension for a similar position at the Purdue Research Foundation in September. His appointment follows a national search by INPRS executive director Steve Russo.
Davis joined INPRS in 2010 as the director of private equity and became deputy CIO in 2013, the pension said. He has overseen the pension's asset allocation, risk management strategy, and allocation to risk parity and public equity portfolios. Before coming to INPRS, Davis was a director of debt management at the Indiana Finance Authority, managing the state's municipal debt portfolio.
Ramsey joined the pension fund in May 2012 as a senior investment analyst in private equity, and obtained his most recent title that following December. Before INPRS, he was an attorney at Ice Miller and an associate general counsel at software company Iasta.