PENSCO, an alternative asset custodian, has appointed Stephen George to its board of directors amid increasing demand for private equity investments in individual retirement accounts.

San Francisco, CA-headquartered PENSCO Trust Company, an alternative asset custodian, has appointed Stephen George to its board of directors amid increasing demand for private equity investments in individual retirement accounts.

George has 25 years of private equity and investment management experience, including as: founder of Omaha-based Panorama Point Partners, a private equity partnership; co-founder and chief investment officer of Capricorn Investment Group; and vice president at Goldman Sachs in an investment management capacity.

He “will help chart a course for growth that includes meeting the needs of PENSCO’s individual investor clients and maximizing opportunities with private equity fund sponsors, private placement issuers and third-party private equity crowd funding platform partners,” said Kelly Rodrigues, chief executive, PENSCO.

The firm has reported a growing demand for private equity; it is the fastest-growing alternative asset class held by PENSCO clients in their retirement accounts. For example, half of all new PENSCO accounts in 2013 were in the form of a private fund, private placement, or other type of private equity deal.

PENSCO has around $10 billion under custody.