Roundtable for Consultants & Institutional Investors

Cheryl D. Alston

Executive Director and Chief Investment Officer

Employees' Retirement Fund of the City of Dallas

Cheryl D. Alston is the Executive Director and Chief Investment Officer of the Employees’ Retirement Fund of the City of Dallas, Texas (“ERF”), a $3.6+ billion pension plan for the City’s civilian employees. Cheryl began her term in October 2004 and provides leadership for the Fund’s staff in implementing the programs necessary to achieve the mission, goals and objectives established by the Board of Trustees. Cheryl is the Vice-Chair of the Board of Blue Cross Blue Shield of Kansas City and is Chair of the Finance and Investment committee. She also serves on the board of Globe Life Corporation. In 2018, Women Inc. Magazine selected Cheryl as one of the most influential corporate directors. In 2011, Cheryl was appointed by President Barack Obama to the Pension Benefit Guaranty Corporation (PBGC) Advisory Committee and served two terms. The PBGC protects the retirement incomes of more than 37 million American workers in private-sector defined benefit plans and has $100+ billion in assets. She also has served on several non-profit boards and foundations including the Texas Women’s Foundation, Texas Wall Street Women, The Arts Community Alliance (TACA) and VolunteerNow. Cheryl has over twenty-five years of expertise in the financial services industry. She served as an Executive with CIGNA Retirement & Investment Services. Prior to CIGNA, Cheryl has served as a Corporate Banking Officer at Chase Global Services, providing investment banking services for Fortune 500 clients. Cheryl has an M.B.A. in Finance from the Leonard N. Stern School at New York University and a B.S. in Economics from the University of Pennsylvania. She is President of the Dallas Assembly and a member of International Women’s Forum Dallas. Ms. Alston was recognized by the D CEO Power 500, Institutional Investor magazine and the Dallas Power 50 award.

David F. Anderson

Senior Investment Officer

New York State Common Retirement Fund

As Senior Investment Officer for the Emerging Manager Program, David Anderson focuses on sourcing, underwriting and monitoring investments with emerging managers. Before joining the Common Retirement Fund, Mr. Anderson was a Vice President at Ranger Global Real Estate Advisors, a veteran-owned investment firm focused on the active management of portfolios of listed real estate securities. Previously, Mr. Anderson was a Regional Manager at Investec Asset Management, where he advised institutional clients on investment opportunities across sub-Saharan private equity, private credit and real estate. Additionally, Mr. Anderson has held roles with J.P. Morgan Asset Management, in their Institutional Advisory group and PricewaterhouseCoopers, in their Real Estate practice. Mr. Anderson received a Bachelor of Science in Accounting from the University of Connecticut.

Juan J. Martinez

Vice President , Chief Financial Officer & Treasurer

John S. & James L. Knight Foundation

Juan Martinez joined Knight Foundation in May 2002. As a member of Knight’s executive committee Martinez is a partner in the development and implementation of the foundation’s strategy. He is also responsible for the foundation’s financial management, reporting and regulatory compliance, overseeing the management of its $2.4 billion investment portfolio and partnering with program staff in development of grants and program-related investments. In 2011, Martinez led the development of the Knight Enterprise Fund. The fund is a venture capital investor in early-stage digital media companies that align with Knight Foundation’s program mission. Since its inception, the fund has invested in more than 40 companies. Martinez serves on its advisory committee and on the board of portfolio company SnagFilms. Martinez started his career at CPA firm Arthur Andersen & Co. He left after four years to found a film production company as well as a financial consulting practice focused on providing financial services to small to midsized corporate clients. Prior to joining Knight, he was manager of financial planning for Telemundo Group Inc. He is an alumnus of Florida International University, Miami Dade College and the Wharton School of Business. He has been a certified public accountant in the state of Florida since 1992. He serves on the board of directors of the Florida International University Foundation, Council on Foundations, and City-to-City Miami. He has also served on the board of The Miami Foundation. In 2010, Martinez was named Nonprofit CFO of the Year by the South Florida Business Journal. He is married to Christa Erml-Martinez and they have two children.

Sylvia Owens

Global Private Credit Strategist

Aksia LLC

Sylvia oversees the implementation of Private Credit portfolios across Aksia’s global base of LPs. As Aksia’s Global Private Credit Strategist, she advises the firm’s clients with respect to portfolio construction, investment selection, pacing, risk, performance monitoring, benchmarking, co-investment programs, structuring, tactical plans and board presentations. She is also a member of the firm’s Private Credit Investment Committee. Sylvia has partnered with prominent industry organizations to increase awareness of Private Credit as an asset class, including spearheading the development of ILPA’s Private Credit Specialist Series, where she is one of the lead instructors for the course. In addition, she speaks regularly at industry conferences about the challenges of building Private Credit portfolios and has contributed to articles including Preqin’s Future of Alternatives Series and Institutional Allocator Magazine. Prior to joining Aksia in July 2016, Sylvia spent nearly a decade in the private market space, working with both investors and GPs across Private Equity, Real Assets and Private Credit selection and positioning. She began her career in 1992 at Goldman Sachs in Chicago, where she oversaw the Midwest Convertibles business and then moved to New York to co-lead the institutional synthetics convertibles business. Sylvia graduated from the University of Southern California with a BA in Economics and East Asian Studies and completed her MBA in Finance from the University of Chicago Graduate School of Business. Sylvia is a founding board member of the Private Equity Women Investor Network (PEWIN), an invitation only group founded in 2008 and that currently has 550 members globally, consisting of women at the most senior levels of their respective firms.

Al Y. Kim

Director of Investments

Helmsley Trust

Al Y. Kim is a Director of Investments at the Helmsley Charitable Trust. In this role, he is responsible for helping lead the development and implementation of the overall investment strategy for Helmsley, w hich entails thematic research, manager research, investment due diligence, and portfolio construction across the long only, hedge fund, private equity, and real asset segments of the investment program. Prior to joining Helmsley, Al was a director in BlackRock's client solutions business which is responsible for developing and managing investment solutions for a global institutional client base, including over $80 billion in OCIO assets. Prior to BlackRock, Al was a consultant with Wilshire Associates where he advised public and corporate pension plans on a range of asset allocation, investment structure, and manager selection issues. Al received his MBA from the University of Chicago Booth School of Business and a BS from the University of Southern California, and also holds the CFA and CAIA designations.

Derek Drummond

Funds Alpha Manager

State of Wisconsin Investment Board

Derek Drummond, CAIA is a Portfolio Manager at the State of Wisconsin Investment Board and member of the firm's Investment Committee. Derek’s team is responsible the sourcing, evaluation and implementation of liquid alpha portfolios across both traditional and alternative strategies. He has extensive experience building frameworks for manager evaluation, portfolio construction and risk management.

Mark Johnson

Senior Managing Director

Cliffwater LLC

Mark Johnson is a Senior Managing Director of Cliffwater LLC and a member of the portfolio advisory team. Prior to joining Cliffwater in 2013, Mark was a Managing Director at Brown Brothers Harriman, where he was head of alternative investments and oversaw the investment manager and strategy research group. While at BBH, Mark was also a principal of the firm’s mezzanine investment team and served on the firm’s private equity investment and credit committees. Previous experience includes senior lending at BBH and investment banking at Bankers Trust Company.

Steven Wilson

Senior Portfolio Manager - Hedge Funds

Teacher Retirement System of Texas (TRS)

Steven Wilson is a Senior Portfolio Manager in the Public Markets group at the Teacher Retirement System of Texas, a $150 billion pension system serving 1.7 million active and retired educators and their families. Mr. Wilson is responsible for the $6.3B Stable Value Hedge Fund Portfolio, which includes allocations to Equity Market Neutral, Macro, Managed Futures, Volatility, Credit and Reinsurance Hedge Funds. He is also responsible for the $6.1B World Equity Portfolio, which includes Beta One strategies benchmarked to global equity indices. Prior to joining TRS, Mr. Wilson was an Investment Director at Ameriprise Private Wealth Advisors, where he oversaw fund selection for $250 million of client assets. Mr. Wilson received an MBA from the Rice University Jones School of Business in 2012, is a graduate of the University of Texas at Austin McCombs School of Business in 2006, and holds the CAIA designation.

Tara A. Blackburn

Managing Director

Hamilton Lane Advisors

Tara Blackburn | Managing Director Tara is a Managing Director at Hamilton Lane, based in the firm’s San Diego office, where she is involved in both the firm’s investment activities and client relationships. She began her private equity career in 1993 and has experience in manager due diligence, portfolio development, account management, and business development. Tara is an Investment Committee member and manages a number of the firm’s client relationships. Prior to joining Hamilton Lane in 2007, Tara was a Managing Director at Pacific Corporate Group where she headed the firm’s global Portfolio Management activities, was an active member of the investment committee, and served on various fund advisory boards on behalf of PCG and its clients. Prior to joining PCG, Tara worked with the media research firm Paul Kagan Associates covering the cable and cellular markets, including the firm’s expansion into Latin America. Tara began her career with Arthur Andersen, where she worked with the litigation consulting division. Tara received a B.A. in Economics from Colorado College.

Douglas J. Brown

Senior Vice President & Chief Investment Officer

Exelon Corporation

Paul Colonna

President and Chief Investment Officer

Lockheed Martin Investment Management Company

Paul Colonna is President and Chief Investment Officer for Lockheed Investment Management Company and was appointed to this role in January of 2019. Paul manages over $70 billion of defined benefit and defined contribution plan assets of Lockheed Martin Corporation, globally and across all asset classes. Previously, Paul was Executive Vice President and Chief Investment Officer for Fundamental Equities at State Street Global Advisors, where he managed over $30 billion in assets under management and led a team of 80 investment professionals. Prior to that, Paul was President and Chief Investment officer for Public Investments at GE Asset Management, where he managed more than $100 billion in assets across public fixed income and equities.

Charlie Georgalas

Chief Executive Officer

Colonial Consulting, LLC

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Rebecca S. Wood

President & Chief Executive Officer

Fund Evaluation Group, LLC

President & CEO, FEG Investment Advisors

Richard Nuzum

President, Wealth

Mercer

Rich is President of Mercer’s Wealth Business, and a member of Mercer’s Executive Leadership team. Rich is responsible for Mercer’s delivery of investment consulting, open architecture manager-of-managers investment management, and retirement actuarial consulting services and solutions globally. During the past 25 years Rich has provided investment advice to clients in more than 20 countries, including many of the world’s largest institutional investors. In prior roles, Rich was the President and Global Business Leader for Mercer’s investment management business, global Chief Investment Officer for Mercer’s investment management business, and held a variety of other leadership roles while based in Tokyo, Singapore and later New York. Rich holds an MBA with High Honors in Analytic Finance and Accounting from the University of Chicago, and a BA with Honors in Mathematical Sciences and Mathematical Economic Analysis from Rice University. Rich also did graduate work in international economics at Tokyo University. Rich is a Chartered Financial Analyst and a member of the CFA Institute. Rich has repeatedly been named to CIO Magazine’s annual list of the world’s most influential investment consultants, and received CIO Magazine’s 2017 Industry Innovation Award as “Consultant of the Year”.

Stephen T. Cummings

Senior Partner, Chief Executive Officer

Aon Hewitt

Stephen Cummings is the Global Investment Officer and Head of North America Aon Hewitt Investment Consulting, one of the largest providers of investment consulting services to institutional investors. He leads over 400 investment consulting professionals with over 470 clients. Cummings serves as the primary consultant for select retainer and project clients. Cummings is ultimately responsible for the success of the North America investment consulting practice. Cummings’ client work has included the coordination and implementation of multiple defined benefit and defined contribution plans into a consolidated structure for a multi-billion dollar corporate client and the oversight of complex alternatives programs for several large public funds. He also served as the team leader for Aon Hewitt Investment Consulting’s work with the U.S. Treasury Department during its TARP initiative and served as advisor to the State Treasurer and interim CIO of a multi-billion dollar state retirement system during a transition period between CIOs. Cummings co-leads the firm’s Global Investment Executive Function, the group responsible for setting the strategic direction of the global investment consulting practice and coordinating consulting efforts around the world. Cummings is responsible for thought leadership within the firm and serves in an advisory capacity on research efforts such as those related to derivatives, private equity, and emerging investment opportunities. He is a sought-after industry expert and frequently speaks before industry groups on a broad range of topics including soft dollars, public fund oversight, portfolio construction, and the evolution of the consulting industry. Cummings joined EnnisKnupp (the predecessor firm to Aon Hewitt Investment Consulting) in 1989 as a consultant and later rejoined in 2000 as the president and Chief Executive Officer. Prior to rejoining EnnisKnupp, Cummings was the president of Marquette Associates from 1997–2000. He holds a B.S. degree from the University of Texas and an M.B.A. degree from the University of Chicago. He is a CFA charterholder and is a member of the CFA Institute and Investment Analyst Society of Chicago (IASC). He is also a member of the Board of Trustees of Kohl Children’s Museum of Greater Chicago.