Virginia System Portfolio Manager to Serve Nonprofits

January 3, 2013 ( - After serving the past 14 years as a program and portfolio manager, Steven C. Henderson has left the Virginia Retirement System (VRS).

Spider Management Company, LLC, a registered investment adviser serving the University of Richmond and other select nonprofits, has named Henderson director of investments. He will join the firm, which is the University of Richmond’s investment affiliate, on January 14.   

At VRS, Henderson was responsible for all aspects of the fixed income program, including a team of four investment professionals, with the objective of generating excess returns and managing overall portfolio risk. As a member of VRS’ management committee, he was involved in setting asset allocation strategy and working with the VRS board of trustees. As part of his work, he identified new investment strategies, including emerging market debt and opportunistic trades, and formulated top down and sector ideas incorporating macro and microeconomic analysis.   

Prior to joining VRS, Henderson was a portfolio manager at Mentor Investment Group and an investment analyst with Ryland Mortgage Company. He has a B.A. from the University of Richmond, an MBA in finance from George Washington University and the chartered financial analyst designation from the CFA Institute.