Slocum to leave Robert Wood Johnson

Richard Slocum, a highly-regarded LP who helped craft the ILPA Private Equity Principles, will join the family office of the Johnson Family as CIO.

A well-known limited partner is moving jobs.

Richard Slocum, director of portfolio management at the Robert Wood Johnson Foundation, is leaving to take on the role of chief investment officer at the Johnson Family investment office, two people with knowledge of the situation told Private Equity International.

Slocum has been a well-known figure in the industry, speaking at private equity conferences and participating in the creation of the Institutional Limited Partners Association’s Private Equity Principles.

“He is a well-respected investor” said one industry source.

Slocum joined the Robert Wood Johnson Foundation in 2005 as director of private investments. In this role, he managed a portfolio of more than $2 billion in commitments to private equity, venture capital, growth equity, distressed investing, opportunistic credit and real assets. Prior to the foundation, Slocum worked at the University of Pennsylvania as senior director of investments.

In 2009, Slocum took over the role of director of portfolio management at the Foundation, giving him responsibility across asset classes. Michael Aswad now works as the director of private investments. In his new role, Slocum was still responsible for building the Foundation’s Asian private equity exposure, sources said.

Along with his work for the Foundation, Slocum also chaired ILPA’s principles and best practices committee and played an important role in the crafting of the trade organisation’s Private Equity Principles, which sought to better align the interests of LPs and GPs.

Slocum is the most recent in a string of well-known private equity chiefs at various institutions to leave their roles in recent weeks. Wayne Smith, longtime head of private equity at the Massachusetts Pension Reserves Investment Management Board, stepped down earlier this month to join fund of funds Pathway Capital Management.

Also earlier this month, Jim Treanor, senior investment officer at the Florida State Board of Administration, announced plans to leave the pension. Treanor’s future plans are unclear.