Wilshire’s Bushner Moves to California –

PITTSBURGH/SANTA MONICA, Calif. – Wilshire Associates Vice President Erica Bushner will transfer in March to the advisory firm’s suburban Los Angeles office from its Pennsylvania headquarters to work more closely with venture firms.

Investment analyst Patrick Wenzel, who was hired in January, will join Ms. Bushner in the satellite office. Wilshire’s limited partners have asked why Ms. Bushner, who focuses on venture capital, did not work on the West Coast, where most of her work is based, she explained. Both she and Mr. Wenzel will focus exclusively on venture capital investing.

Wilshire serves as an adviser and a fund-of-funds manager. The group’s second fund-of-funds, Wilshire Associates Private Markets II, was slated to wrap at the end of March on $300 million to $400 million (VCJ, December 1998, page 22).

Wilshire II at press time had backed nine partnerships, most recently Spectrum Equity Partners III, Fenway Partners Capital Fund II and Apax Partners V. By late last year, Wilshire II already had invested in New Enterprise Associates VIII, Weston Presidio Capital III, Trinity Ventures VI, J.W. Childs Equity Partners II L.P., HIG Capital Partners II and Jupiter Partners II. Wilshire II is expected to back approximately seven more partnerships from its second fund -of-funds this year, she said.

Ms. Bushner joined Wilshire in early 1997 from the Pennsylvania State Employes’ Retirement System, where she was the head of alternative investments.