By Muskan Arora
The $125.5B Tennessee Department of Treasury’s investment division has promoted Daniel Crews as deputy chief investment officer from the role of director of private equity.
Crews succeeds Thomas Kim, who stepped down in August 2024 to become the $70B Maryland State Retirement & Pension System’s deputy CIO. In his new role, Crews will report to CIO Michael Brakebill. Grant Leslie, who has been serving as the senior private equity portfolio manager since 2014 will succeed Crews.
Crews has been managing the state’s capital for nearly two decades, since starting in 1999 with the Treasury Cash Management team. He was later promoted to the role of senior portfolio manager within the public equities team.
“Our investment team is packed with highly talented people who are able to rise to challenges at a moment’s notice,” said Brakebill in a news release. “Daniel and Grant exemplify those capabilities, and I look forward to what they will deliver to TCRS in their new roles.”
Tennessee’s investment division oversees the state’s assets, including the $69.4B Tennessee Consolidated Retirement System that is based in Nashville.
The pension plan reported a return of 10.06% for FY 2024 outperforming its assumed rate of return at 6.75%.
