Oregon Investment Fund

The Oregon Investment Fund (OIF) is designed to encourage, build and invest in growing, innovative enterprises creating risk-adjusted returns for the Oregon Public Employees Retirement Fund (OPERF).

OIF, funded by the OIC (Oregon Investment Council), commits money to both private equity and venture capital funds that in turn invest in companies located in the State of Oregon, as well as the broader Pacific Northwest region. In some circumstances, OIF invests directly in operating companies alongside the OIF’s private equity and venture capital managers.

Since its onset, the OIF has become a critical part of the funding landscape in Oregon and the Pacific Northwest, and continues to further this position through partnerships with other leading funds and seeking out promising enterprises.

Strategy

As a team, Credit Suisse and the Oregon Investment Council aim to build the OIF portfolio with:

• Investments that are in Oregon or Pacific Northwest-based companies,
• Investments that are placed through Oregon/Pacific Northwest-focused and based private equity funds,
• Investments that are designed to place capital with funds that invest in companies spanning various stages of development
• Funds that intend to make investments that could ultimately benefit start-up companies coming out of Oregon colleges and universities.

Fund Management

OIF is managed by Credit Suisse’s Customized Fund Investment Group (CFIG). The group’s activities include: sourcing premier funds and Oregon companies, performing comprehensive due diligence, investment execution, and monitoring and reporting.

CFIG is one of the world’s leading managers of private equity fund of fund and co-investment programs, with over $28 billion¹ of client commitments under management. Founded in 1999, CFIG currently has one of the largest dedicated alternative investment teams with over 120 experienced professionals. CFIG’s Investment Committee is comprised of the group’s most senior investment professionals who collectively have more than 160 years of private equity-related experience. In addition, the senior members of CFIG’s large and diverse team have spent the majority of their careers acting as professional fiduciaries for large institutional investors and are well positioned to make attractive alternative investments in the current market.

Kelly M. Williams, Managing Director and Group Head
Kelly M. Williams is a Managing Director and the Group Head of the Customized Fund Investment Group (“CFIG”), a market leader in the development and management of customized private equity, real estate and infrastructure programs with more than $28 billion in client commitments under management. CFIG also provides portfolio management services on more than $100 billion of monitored client commitments to private equity and real estate funds and offers a suite of customized reporting and back office solutions. Ms. Williams was previously an Executive Director with Prudential's private equity group which she co-founded in 1999. Prior to joining Prudential, Ms. Williams was an associate with Milbank, Tweed, Hadley & McCloy LLP, where she specialized in global project finance.

Ms. Williams graduated magna cum laude from Union College in 1986 with a BA degree in Political Science and Mathematics and received her JD from New York University School of Law in 1989. Kelly has served as a mentor to fellows of the Robert Toigo Foundation since 2006 and was the 2010 recipient of its Leading by Example award. She was elected to the YWCA Academy of Women Leaders in 2007 and is the founding board chair of the Private Equity Women Investor Network. In addition, she is chair of the LP Advisory Board for the Sponsors for Educational Opportunity Program and also serves on the boards of several other organizations, including the Council of Urban Professionals and the Association of Asian American Investment Managers. Kelly is a member of the Metro Chapter of the Young Presidents Organization, and a member of both the Board of Trustees and the investment committee at Union College.

David Almodovar, Principal
David is a Principal in the Customized Fund Investment Group. David is located in CFIG’s Portland office. Previously, David was a Director in a private equity group at the Russell Investment Group and had responsibility for investing and monitoring Russell’s private equity partnership investments. Prior to joining Russell, David was a Principal with SS Thomas & Associates and was responsible for advising the firm’s clients on investment strategies, fund structures and fund raising strategies. Prior to SS Thomas & Associates, David was an Investment Officer in the alternative investment division of the Washington State Investment Board where he managed a $5.2 billion portfolio of private equity investments. Prior to his work in the investment industry, David served in many capacities in the U.S. Army, including assignments in the United States, South Korea and Saudi Arabia during Operation Desert Storm. Dave received a BA from the University of Washington and an MBA from St. Martin’s School of Business and Economics.

Advisory Committee

Kirby Dyess, Austin Capital Management
Patricia Moss, CEO, Bank of Cascades
Michael Payne, CEO, Answer Connect
Dave Chen, GP, Equilibrium Partners

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Since its inception in 2003, the OIF has brought premier venture capital funds to Oregon, encouraging small business growth and continued growth to the region.