State of Wisconsin Investment Board Funds Alpha Manager Derek Drummond has been appointed the new chair of the Standards Board for Alternative Investments North American Committee. Drummond will lead the SBAI’s activities and initiatives in North America. The SBAI North American Committee has 10 members, equally split across asset owners and managers, exemplifying their commitment to neutrality.
“I feel very privileged to take on this role at such an exciting time for our industry – the needs of asset managers, owners, and the regulatory community are changing rapidly,” Drummond said. “The SBAI continues to be the neutral platform to solve problems and find solutions for the many issues our industry faces.”
Drummond is the portfolio manager for SWIB’s funds alpha team, which allocates around $30 billion in assets to external managers. These highly skilled external managers can complement SWIB’s internal investment capabilities by employing specialized strategies in hard to access markets. Finding alpha in a challenging market environment is important to keeping the WRS among the only fully funded public pension systems in the country.
The SBAI is an active alliance of over 150 alternative asset managers and over 100 institutional investors dedicated to advancing responsible practice, partnership, and knowledge. It advocates for an effective alternative investment ecosystem through robust standards and the exchange of ideas.