The North Carolina Investment Authority Board (NCIA) recently convened for its first time, marking a significant change in how the state will handle its substantial financial resources. Treasurer Brad Briner, who has traditionally held singular authority over the state's investments, chaired the initial meeting of the new governing body that will oversee the management of over $200 billion in public monies from the North Carolina Retirement Systems, among other funds. In a statement obtained by N.C. Department of State Treasurer, Briner emphasized the importance of the transition, saying "Today was a big day for North Carolina’s future," he added, "The shift toward board governance and away from the sole fiduciary model will allow us to maximize returns for the people of North Carolina."
The new board is composed of esteemed members with extensive investment experience. Dan Ward, nominated by the State Senate, is a former Chief Investment Officer (CIO) for the Virginia Tech Foundation and the current CIO for Greenhawk Family Office. Mark Roberts, the State House's appointee, has a strong investment background as well, including his role as the CIO of Ironside Asset Advisors and former Director of Global Equities and Hedged Strategies for the North Carolina Retirement Systems. Treasurer Briner's nominee, Stephanie Lynch, co-founder and managing partner at Global Endowment Management, once served as the chief investment officer at The Duke Endowment, and, has a track record at both INVESCO Capital Management and Trade Street Investment Services. She awaits confirmation by the General Assembly before officially joining the board.
Additionally, Governor Josh Stein will nominate the final member, whose appointment will also be subject to General Assembly confirmation. With most of the board positions filled, the inaugural meeting's one unanimous decision was to appoint Kevin SigRist as the interim chief investment officer of the NCIA. SigRist currently assumes the roles of CIO and Deputy Treasurer of the Investment Management Division at the Department of State Treasurer.
The NCIA Board is scheduled to reconvene on Nov. 19, at which point they will finalize policies, charters, and other vital protocols in preparation for the new investment structure's official launch on Jan. 1, 2026.
