Oregon State Treasury CIO to step down in March

John Skjervem, the chief investment officer at the Oregon State Treasury, has announced plans to resign from his position at the end of March, according to several local news sources.

Skjervem, who managed the $82 billion Oregon Public Employees Retirement Fund (OPERF) and helped lead Oregon’s investment division for more than seven years, will join Alan Biller and Associates, a business management consultant located in Menlo Park, Calif.

Prior to his stint at the Oregon Treasury, Skjervem held several chief investment officer positions in different divisions at Northern Trust, a financial services company headquartered in Chicago.

As of December 2019, OPERF had an 11 percent actual allocation to the real estate asset class — a portfolio value of $8.7 million — with a 12.5 percent target.