The PSPRS, CORP, and EORP investment portfolio is managed by a team of professionals with diverse backgrounds in economics, finance, endowments, mathematics, and other fields of study. The award-winning team speaks a total of six languages and includes members from three continents which makes the members well-suited to manage a global investment portfolio.
For media inquiries regarding investment selections, please contact PSPRS Communications Director, Christian Palmer at [email protected].
Mark Steed (MBA, MS) – Chief Investment Officer
Telephone: (602) 296-2531
[email protected]
Mark has been with PSPRS since 2007. He began as an intern and from there took positions of increasing responsibility: investment analyst, portfolio manager, and chief of staff. Mark was named CIO in 2018. Prior to joining PSPRS, Mark worked in banking for JP Morgan Chase. His outside activities include a four-year project as a forecaster for the Good Judgment Project, led by prominent behavioral economist Phil Tetlock. Mark lives in Gilbert with his wife and three children, and is a member of the acclaimed musical group Cinematic Pop.
• MS in Predictive Analytics (Northwestern University)
• MBA (Thunderbird School of Global Management, Jost Henkel Scholar)
• BA in Latin American Studies (Brigham Young University, honors from Sigma Iota Rho)
James Ko (CFA, CPA) – Deputy Chief Investment Officer
Telephone: (602) 296-2521
[email protected]
James joined PSPRS in 2018. He manages investments for the diversifying strategies asset class portfolio which includes investments in hedge fund strategies. James also manages the contractual income asset class portfolio which includes investments in private lending, royalty, leasing, and special situations strategies. He was named Deputy CIO in 2021. James has over a decade of experience in alternative investment management and portfolio construction. Prior to joining PSPRS, James was a Senior Investment Analyst for MIG Diversified Fund at MIG Capital where he focused on building the investment program, allocating assets, selecting managers, and leading the due diligence process. James also worked for Wedbush Securities, Roth Capital, and PricewaterhouseCoopers.
• BA in Business/Economics (University of California, Los Angeles)
• Chartered Financial Analyst
• Certified Public Accountant
• Fluent in Mandarin
Vaida Maleckaite (PhD) – Director of Investment Services
Telephone: (602) 296-2546
[email protected]
Vaida has been with PSPRS since 2012. She began as an Investment Operations Analyst and has served as Director of Investment Services since July 2016. Her current responsibilities include overseeing financial and performance reporting for the PSPRS investment portfolio, management of day-to-day back office operations and custodial relationships, as well as portfolio risk analytics, trading, records retention and due diligence support functions. Her previous professional experience includes quantitative research and teaching in public finance and public administration, as well as non-profit administrative and financial management work.
• PhD in Public Administration and Management/Public Finance (University of North Texas)
• Master of Public Policy Administration (University of Missouri, St. Louis)
Jennifer Carlino (JD) – Chief Investment Counsel
Telephone: (602) 296-2524
[email protected]
Prior to joining PSPRS in 2014, Jennifer was a partner in the Corporate Law Group of Quarles & Brady LLP in Phoenix, Arizona. Jennifer was selected as a finalist for the 2016 Arizona Corporate Counsel award presented by the AZ Business® magazine and was included among Southwest Super Lawyers® magazine’s 2012 Rising Stars.
• JD (Columbia University School of Law, Harlan Fiske Stone Scholar)
• BS in Business/Accounting (Marquette University with honors, summa cum laude)
• Admitted to practice law in New York (1999)
• Admitted to practice law in Arizona (2000)
Shan Chen (PhD, MBA) – Lead Portfolio Manager
Telephone: (602) 296-2561
[email protected]
Shan has been with PSPRS since 2007. He manages the capital appreciation asset class portfolio which includes investments in private equity, opportunistic real estate, and energy. He also analyzes portfolio risk. Shan came to PSPRS with over 15 years of experience in academic research, business, finance, and banking, including senior level consulting experience in information technology.
• PhD in Chemistry (University of Louisville)
• MS in Computer Science (DePaul University)
• MBA (University of Chicago)
• BS in Chemistry (Peking University)
• Fluent in Mandarin
• Experience in Asia
Susan Baker (MA, CAIA) – Senior Portfolio Manager
[email protected]
Susan joined PSPRS in 2023 and manages the contractual income asset class portfolio which includes investments in fixed income, private lending, royalty, leasing, and special situations strategies. Susan has spent her career focused on alternative investments, most recently with the Washington State Investment Board’s multi-billion dollar tangible assets portfolio. Prior to that Susan spent eight years in Seoul, South Korea, where she served as an operational due diligence specialist at Deloitte and an alternative investments analyst with Samsung Securities. Susan is currently based in Washington state.
• MA in International Cooperation (Yonsei University of Graduate Studies)
• BA in International Relations (Claremont McKenna College)
• CAIA designee since 2010
• Fluent in Korean
Edward Bozaan (MBA) – Senior Portfolio Manager
[email protected]
Edward joined PSPRS in December 2021. He began his investment career in the 1990s when he launched Waterford Partners. The firm focused on depressed emerging markets and mostly managed money for large hedge funds and family offices. After that, he was a senior portfolio manager at Passport Capital, a San Francisco-based global macro fund, where he managed a team of analysts. Before joining PSPRS, he launched and managed Cleargate Capital, which focused on European equities. Edward is working remotely for now from the East coast. Edward grew up in southeast Michigan and has lived in Switzerland, Brazil, and Mexico while working for a $2 billion European single-family office. His wife's family has lived in Arizona for more than ten years. Edward and his wife have spent part of every winter here since 2011.
• MBA (University of Chicago)
• BA in Psychology/Sociology (Anderson University, Indiana)
Jefferson Weston (MBA) – Portfolio Manager
Telephone: (602) 296-3735
[email protected]
Jeff has been with PSPRS since 2015, where he began as an intern and advanced his positions and responsibility to where he is currently the portfolio manager managing the Real Estate investments under the Capital Appreciation asset class. Prior to joining PSPRS, with working proficiency in the German language, Jeff lived in Germany teaching English at Leipzig University, gaining both stronger communication skills and experience in leading staff teams, mentoring, and managing relationships with diverse clients and colleagues.
• MBA (IE Business School, Madrid)
• BS in Finance and Economics (Grand Canyon University)
Rose Crutcher (ACP, CLA) – Investments Paralegal
Telephone: (602) 296-3733
[email protected]
Rose joined PSPRS in 2015. She is responsible for contract administration, document management, and legal support. Rose has more than 40 years of experience as a paralegal in the areas of public administration, contracts, litigation, and medical malpractice. She lives in Phoenix with her husband of 35 years, is the mother of three children, and is a proud Blue Star Mom to a U.S. Army combat veteran of Afghanistan and Iraq. She wears a red shirt each Friday to remember U.S. troops in harm’s way (Remember Everyone Deployed).
• Advanced Certified Paralegal, Contracts Management/Contracts Administration
• Certified Legal Assistant, National Association of Legal Assistants
• Tempe Elementary School Board (2000 to 2008)
• Master of Boardsmanship, Arizona School Board Association
• Paralegal Certificate (University of Phoenix)
Linda Harrington Scofield (ACP, CLA) – Investments Paralegal
Telephone: (602) 889-9281
[email protected]
Linda joined PSPRS in early 2023. She is responsible for contract administration, document management, and legal support. Linda has more than 20 years’ experience in the paralegal field in small firms and government offices. She most recently worked for the City of Scottsdale retiring in 2022 after 18 years in the civil litigation division. She is originally from Plymouth, Minnesota graduating from the legal studies program at the University of Minnesota. Linda lives in Phoenix with her husband, and is the mother of two sons. She is an avid reader and also occasionally writes short stories for theme collective publications.
• Advanced Certified Paralegal, Contracts Management/Contracts Administration
• Certified Legal Assistant, National Association of Legal Assistants
• Legal studies program University of Minnesota Law School
Owen Zhao (MS, CIPM, FDP) – Senior Investment Data Scientist
Telephone: (602) 296-3734
[email protected]
Owen has been with PSPRS since 2015. He is responsible for the portfolio’s risk analysis and data analysis, a duty that includes assessing market environments, forecasting volatility and value at risk, building machine learning, statistical and predictive models. Owen creates programs, methodologies, and files for analyzing and presenting data; researches new data sources and analytical tools. Prior to joining PSPRS, Owen worked in banking, wealth management, and corporate finance. He is married and has a son. He counts fitness and fixing electronics among his hobbies.
• MS in Global Finance (Thunderbird School of Global Management)
• MS in Data Analytics (Harrisburg University of Science and Technology)
• BS in Finance and Management with a certificate in Small Business and Entrepreneurship (Arizona State University)
• Fluent in Mandarin
• Experience in Asia
Alexi "Lex" Baptiste – Portfolio Analyst
Telephone: (602) 889-9348
[email protected]
Lex joined PSPRS in June 2023. He spent the past four years as a senior operations analyst at Pathway Capital Management, a private equity firm in Irvine, California, where he managed the firm's $90B AUM portfolio, primarily focused on global stock equities. Prior to Pathway, Lex was an operations analyst at Charles Schwab in Phoenix, AZ. At PSPRS, Lex supports the Global Public Equities Asset Class and due diligence process. Outside of work, Lex is a dedicated foodie and coffee connoisseur, travel enthusiast and enjoys photography. His most recent hobby is learning the electric guitar.
• B.S. Economics (University of Utah)
Katherine A. Boligitz – Portfolio Analyst
Telephone: (602) 296-2555
[email protected]
Originally from the east coast, Katie Boligitz joined PSPRS as a portfolio analyst in January 2020. At PSPRS, she conducts due diligence and monitoring activities for the contractual income asset class category. Katie most recently worked as a performance auditor for the Arizona Auditor General’s Office where she was employed for three years. There, she made state government more efficient and effective by completing program evaluations across agencies such as the Arizona Medical Board, the Department of Child Safety, the Department of Water Resources and the Department of Agriculture. Not a typical desk job, she was able to tour an earthen dam, shadow egg inspectors, conduct phishing calls for an IT audit, and measure well water depths. At the end of each audit, Katie and her team wrote quality reports with value-added recommendations for the agency to implement and the Legislature to focus resources accordingly.
• Master of Economics (University of Arizona, Eller College of Management)
• Undergraduate Mathematics (La Salle University)
• Undergraduate Economics (La Salle University)
Niv Rajarajan – Portfolio Analyst
Telephone: (602) 750-6367
[email protected]
Niv joined PSPRS as a portfolio analyst in June 2023. Niv conducts due diligence and monitoring activities for Global Private Equity asset class category. Prior to joining PSPRS, Niv worked as an IT consultant in NTT DATA, Dallas, Texas. With a passion for problem solving, Niv was committed to driving efficiency in the Financial Operations processes in NTT DATA. Niv has more than 10 years experience in various departments of Information Technology. Outside of work, Niv enjoy spending time with family and reading.
• Undergraduate in electronics and instrumentation engineering (Anna University, Chennai)
• Masters in finance (Arizona State University).
Brandon Turner– Portfolio Analyst
Telephone: (602) 296-2532
[email protected]
Brandon joined PSPRS as a Portfolio Analyst in 2021. At PSPRS, Brandon supports the Global Private Equity portfolio with sourcing, due diligence, and investment monitoring activities. Prior to joining PSPRS, Brandon was a product analyst and business planning analyst within the Enterprise, Digital, & Analytics business unit of American Express. He also worked as a brokerage investment professional at Vanguard. Outside of work, Brandon enjoys mountain biking and spending time with his family.
• BS in Finance and Business Management (Northern Arizona University)
Brian C. Dunham – Investment Accountant
Telephone: (602) 296-2549
[email protected]
Previously with Arizona State Retirement System for five years as an accountant, Brian joined PSPRS in 2006 in the Finance Department as a senior accountant. Brian moved to the Investment Operations team at PSPRS in July 2020. In his role as investment accountant, Brian is responsible for investment transaction reconciliations, capital commitment reconciliations, and investment fee and expense validation and analysis. Brian also previously worked as a developer and has a strong background in Excel and Access. His main hobby is serving as the commissioner for numerous fantasy sports leagues.
• BA Economics/Mathematics (State University of New York, Cortland)
• Letterman for 1983 & 1985 CIF Southern Section 2-A Boys Tennis Champions (Indio High School)
Tim Jackson – Investment Accountant
Telephone: (602) 540-3058
[email protected]
Tim has served as an investment accountant since March of 2021. In this role, he accounts for, and reconciles, fund valuation statements and produces asset allocation reporting. Prior to this role, he served as the PSPRS compliance officer beginning in September of 2017. Beginning state service in 2002, he has held various positions in accounting, administration, and audit, within multiple state agencies. Tim is a Certified Fraud Examiner (CFE), Certified Internal Auditor (CIA), and Certified Compliance & Ethics Professional (CCEP). In his free time, Tim enjoys hiking and travel.
• Master of Public Administration (Arizona State University)
• Bachelor of Business Administration-Accounting (Western Michigan University)
Rachel Chen (PhD, MS) – Data Analyst, Intermediate
Telephone: (602) 889-9270
[email protected]
Rachel joined PSPRS in 2022. Her prime responsibilities include using statistical skills to build risk and analytics models and creating reports, summaries and presentations to display results. Prior to joining PSPRS, she worked as a food scientist. She also worked in the academic area for several years.
• MS in Statistics (Arizona State University)
• PhD in Food Science and Technology (The University of Tennessee, Knoxville)
• MS in Medicine (Peking Union Medical College/Tsinghua University)
• BS in biological science, dual major in International Economics & Trade (Beijing Normal University)
Consultants
PSPRS contracts with investment consultants to provide industry knowledge across asset classes, research and assistance in identifying and vetting investment opportunities, and portfolio allocation guidance. Consultants serve PSPRS in an advisory capacity only and are selected based on recognized expertise and reputation.
Albourne Partners Limited
• Consultant – Spencer Edge
• Advises on hedge funds and private equity
• https://www-us.albourne.com
New England Pension Consultants
• Consultant – Allan Martin
• Total fund advisor to Board
• http://www.nepc.com
