Chao Names Kandarian Head of PBGC

November 29, 2001 ( - Labor Secretary Elaine Chao announced that Steven Kandarian has been tapped to head up the Pension Benefit Guaranty Corporation (PBGC).

Kandarian, formerly a founder and managing director of Orion Partners, a private equity fund specializing in acquisitions of established companies and venture capital, will take the reigns as executive director of the PBGC.

Kandarian was previously a managing director of Lee Capital Holdings, a private equity firm based in Boston.

The PBGC is a federal corporation created by the 1974 Employee Retirement Income Security Act to insure beneficiaries of terminated private defined benefit pension plans.