Crossroads President Retires –

FARMINGTON, Conn. – Hanse Halligan, the president and chief investment officer of Crossroads Investment Advisers, will retire at the end of March, the firm said in a written statement.

Mr. Halligan will be replaced as president of the firm by Richard Spencer, and his CIO position will be assumed by an investment leadership team composed of principals of the firm. “Hanse has done an excellent job with the organization,” Mr. Spencer said. “We’ll miss him tremendously.”

Mr. Halligan has been with Crossroads and Bigler Investment Management Co., a portion of which was acquired by Crossroads in 1996, since 1987. Earlier in his career, he held a number of senior management positions with CIGNA Corp., including president of CIGNA Investment Management Co.

Mr. Halligan also has served on the advisory boards or valuation committees of a number of venture capital firms, including Brentwood Ventures, Highland Capital Partners, Menlo Ventures and Morganthaler Ventures.

The firm, based in Farmington and Dallas, invests in venture capital, European private equity and small- to mid-size United States buyout partnerships through its $310 million fund-of-funds closed in December.