|Pennsylvania Public School Employees Retirement System|
When James Grossman got promoted to deputy CIO of Pennsylvanias $50.8 billion Public School Employees Retirement System last year, Robert Little rose to replace him. Then portfolio manager for nontraditional investment strategies, Little became point person for the systems $5.9 billion absolute-return program. Little, 46, who holds a BS in accounting from Elizabethtown College, joined Harrisburg-based PSERS in 1999. He and Grossman, who becomes interim CIO this month, both worked as accountants for KPMG in the 1990s. Since Little took over the hedge fund program, its investments have included a $250 million commitment to London-based BlueCrest Capital Managements BlueTrend Fund. PSERS has also allocated to a hedge fund run by Bermuda-based Aeolus Capital Management that focuses on catastrophe bonds and to a global agriculture absolute-return fund managed by Cargill spin-off Black River Asset Management of Hopkins, Minnesota.