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John Russell, founder of Russell Development Co., was confirmed by the state Senate this week as a member of the Oregon Investment Council. He was nominated by Gov. Kate Brown.

The council oversees investments of the state’s portfolio, which has a market value of $88 billion, and includes the Oregon Public Employees Retirement Fund and the State Accident Insurance Fund.

Russell’s past civic involvement includes the Portland Development Commission, the Portland mayor’s Business Roundtable and Blue Ribbon Committee for Economic Development as well as the Oregon Transportation Commission, the Portland Planning Commission and the Portland Historic Landmarks Commission.

Russell founded Russell Development in 1979. The company develops, owns and manages a number of buildings in downtown Portland, including 200 Market Street and the PacWest Center.

Deciding where to invest state money is 鈥渁 huge intellectual challenge,鈥� Russell said, and people want to see results. 鈥淚t’s a big responsibility,鈥� he said. 鈥淚 have lots of friends in PERS and see their faces when decisions are made. It affects a lot of people.鈥�

Other members of the Oregon Investment Council are: Katherine J. Durant of Atlas Investments LLC; Rukaiyah Adams of Meyer Memorial Trust; 鈥婯eith Larson of Intel Capital; CPA Richard B. Solomon; State Treasurer Ted Wheeler; and Public Employees Retirement System (PERS) director Steve Rodeman.