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Illinois Pension Official Who Jettisoned Hedge Funds Plans to Resign

(Chicago Business) A former Illinois pension board chairman who successfully sought to have an $18 billion state pension fund eliminate hedge fund investments plans to resign soon. Former Illinois State Board of Investment Chairman Marc Levine, who led a pension fund charge against investing in hedge funds, plans to leave the board in a few weeks, after passing the baton to a new chairman last week.

The ISBI said in a statement today that Illinois Appellate Judge Mary Seminara-Schostok was unanimously elected chairperson at a board meeting last week, becoming the first woman in that role. She has been a member of the board since 2013. (While the statement was issued today, it is dated Dec. 11, which is when the board meeting took place.)

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