Landmark legislation spearheaded by Treasurer Brad Briner earlier this year will revamp the way North Carolina’s $200 billion in public monies from the North Carolina Retirement Systems, cash management and other funds are managed. The Treasurer, who currently holds all investment authority, will now chair a board which oversees these taxpayer dollars. The N.C. Investment Authority Board (NCIA) held its first organizational meeting today.
“Today was a big day for North Carolina’s future,” said Treasurer Brad Briner. “The shift toward board governance and away from the sole fiduciary model will allow us to maximize returns for the people of North Carolina.”
Treasurer Briner is joined on the board by Dan Ward and Mark Roberts, nominated to the NCIA by the State Senate and State House, respectively. Mr. Ward is the former CIO for the Virginia Tech Foundation and currently is CIO at Greenhawk Family Office, where he leads investment strategy and portfolio management. Mr. Roberts is the chief investment officer of Ironside Asset Advisors. He also previously served as the Director of Global Equities and Hedged Strategies for the North Carolina Retirement Systems.
Today, Treasurer Briner announced Stephanie Lynch as his nominee to NCIA. Lynch is co-founder and managing partner at Global Endowment Management, which advises and co-invests in endowment style programs with investors. She formerly was the chief investment officer at The Duke Endowment and a portfolio manager at both INVESCO Capital Management and Trade Street Investment Services. Ms. Lynch will need to be confirmed by the General Assembly before she can be seated on the Board.
The final member of the board will be nominated by Governor Josh Stein and will also need confirmation by the General Assembly.
With a majority of the Board seated, the members took one vote today to name Kevin SigRist to serve as the interim chief investment officer of NCIA. SigRist currently serves as the Department of State Treasurer CIO and Investment Management Division deputy treasurer.
The Board will meet again on Nov. 19 to complete policies, charters, and other matters needed prior to the new investment structure going into effect on Jan. 1, 2026.