Loftis

Mal recalled Loftis from westerns he’d taken Stefan to: a tall, lanky, silver-haired man, handsome like your idealized U.S.

The Big Nowhere Ellroy, James, 1948- 1988

Curtis Loftis , a 53-year-old pest-control company owner who was elected South Carolina's treasurer in 2010, is one of the few public-pension officials in the U.S. trying to trim back "alternative" investments.

Weaning Off 'Alternative' Investments Michael Corkery 2012

Mr. Rubenstein spent about an hour with Mr. Loftis and Mr. Gillespie in the chairman's Greenville office, according to the treasurer.

Weaning Off 'Alternative' Investments Michael Corkery 2012

Until 2000, the South Carolina pension plan could only invest in bonds, but even Mr. Loftis admits a return to those days is unrealistic.

Weaning Off 'Alternative' Investments Michael Corkery 2012

Mr. Loftis doesn't want to eliminate all hedge-fund and private-equity investments.

Weaning Off 'Alternative' Investments Michael Corkery 2012

In August, David Rubenstein , a founder of private-equity giant Carlyle Group LP, traveled to Greenville, S.C., for what Mr. Loftis says was a "courtesy call" to a loyal client.

Weaning Off 'Alternative' Investments Michael Corkery 2012

"We're heavily intertwined with the federal government, especially with education, Medicaid, health care and employment," said South Carolina Treasurer Curtis Loftis Jr.

States Figure Out How to Cope if the Federal Money Stops Flowing Sara Murray 2011

"I question whether Wall Street's interests are being protected or our interests are being protected," says Mr. Loftis.

Weaning Off 'Alternative' Investments Michael Corkery 2012

"He's a great man," Mr. Loftis says about Mr. Rubenstein.

Weaning Off 'Alternative' Investments Michael Corkery 2012

Mr. Loftis also says he is bothered by fees he says never seem to stop climbing.

Weaning Off 'Alternative' Investments Michael Corkery 2012