The Defined Contribution Alternatives Association (DCALTA) Welcomes Drew Carrington, James Hannigan and Avi Turetsky to its Board of Directors

PORT ORANGE, Fla., June 27, 2023 /PRNewswire/ -- DCALTA, a leading non-profit association in the U.S. retirement ecosystem, is pleased to announce the appointment of Drew Carrington from Franklin Templeton, James Hannigan from Apollo, and Avi Turetsky from Ares Management to its board of directors.

DCALTA founding board members, Gary Fencik from Adams Street Partners, Jeffrey Hall from Nuveen and Bob Long from StepStone Private Wealth, will be transitioning from the board. "Their exceptional contribution to DCALTA`s dramatic growth has been essential to our impact on the retirement industry," said Jonathan Epstein, DCALTA President & Founder.   

The new board members bring a wealth of experience and expertise to DCALTA. Their appointment to the board will bring new perspectives and insights that will help guide DCALTA as it continues to grow and innovate to bring broader investment diversification to all U.S. defined contribution savers.

"We are thrilled to welcome Drew, James and Avi to our board of directors. Their knowledge, skills, and experience will be invaluable as we navigate the opportunities and challenges ahead for expanding access to alternative investments in defined contribution retirement plans," said Jonathan Epstein.

The new board members have impressive backgrounds and have all demonstrated a commitment to DCALTA`s mission. Serge Boccassini, DCALTA Chair, said, "It is exciting to work with the largest and most sophisticated alternative investment firms, and we value their commitment to securing and enhancing retirement outcomes for DC savers."

Avi Turetsky, Partner and Head of the Quantitative Research Group at Ares Management, said, "It has been an honor to be involved with DCALTA since 2020, and I am thrilled to be joining its board. DCALTA has made important progress in its initiatives that seek to provide retirees greater access to alternative investments. Ares has a long history of investing on behalf of public pension plans and other retirement funds that help provide secure futures for retirees, and we look forward to further expanding these efforts through our work with DCALTA."

James Hannigan, Managing Director at Apollo Global Management, said, "At Apollo, we believe that alternative assets, in their various forms, can provide excess returns and reduced volatility relative to their public market equivalents. Despite a long-term investment horizon, DC participants have historically had limited access to alternative assets. DCALTA has made great strides in advocating for change. I am excited to join the board and support their effort."

Drew Carrington, Head of Institutional Defined Contribution at Franklin Templeton said, "I'm looking forward to serving on the DCALTA board and advancing this crucial topic of expanding access to alternative assets for participants in defined contribution plans. This is an initiative Franklin Templeton supports from the top down that our CEO, Jenny Johnson, refers to as "Democratizing Alternatives." Our clients deserve the broadest range of investment choice, and expanding into alternatives helps to provide all clients with access to performance and return drivers that differ from more traditional investments. It is long past time that U.S. DC plans follow the lead of other institutional investors (and other DC systems outside the U.S.) in incorporating a full range of investment tools in professionally managed solutions for DC plan participants. DCALTA is uniquely positioned to push the industry forward on this topic."

About DCALTA

Founded in 2015, DCALTA is the retirement industry's collective voice of plan sponsors, asset managers, asset servicers and many other stakeholders seeking to enhance and secure DC plan saver's retirement outcomes through education, research, and advocacy on the benefits of including alternative investments within a DC framework. DCALTA is dedicated to providing industry solutions to help overcome market bias and operational impediments that may limit the use of alternative investments within DC plans.

SOURCE DCALTA - Defined Contribution Alternatives Association

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