The Department of State Treasurer's Investment Management Division has brought on board Ty Powers in the freshly minted role of Investment Director for Multi-Strategy Assets, a strategic hire announced by State Treasurer Brad Briner.
With over two decades of expertise in investment management, Powers joins the team with the intent to address the department’s crucial needs, including squaring away pension deficits—in Treasurer Briner's own words, "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," as per the information gleaned from a publication on the Department of State Treasurer's website.
In his new function, Powers will take charge of a broad array of assets, described as multi-strategy which counts customized partnerships direct investments and co-investments under his purview, directly reporting to Kevin SigRist, the Chief Investment Officer.
The journey that led Powers to this juncture spans a notable stretch across the investment spectrum, his last position as Director of Asset Allocation at Investors Trust Company in Chapel Hill catering to affluent clients, before that he navigated the waters at IMD as a portfolio manager in areas such as credit real assets, and multi-strategy investments, meanwhile Powers' resume also features a tenure as co-portfolio manager and director of hedge fund research at a firm in Raleigh, plus stints as an equity analyst in both Durham and Richmond, originally cutting his teeth in private wealth management within the power centers of Baltimore and Washington, D.C. – all of this according to the department's official announcement.
