The firm has agreed to acquire an investment advisor focused on ultra-high-net-worth families with offices in California, Colorado and Texas to strengthen its position within the high-net-worth advisory space.
The new finance head will oversee finances, accounting, investments and operations at the end of the fourth quarter after its previous cfo left to join an energy company as assistant v.p. of finance.
The university approved a venture capital commitment with a firm founded in 2023 at its February board meeting.
The firm has promoted five team members, including two to managing director, as they have contributed to accelerating the firm’s momentum in the space.
The system is seeking a consultant for its cash and endowment pools after conducting a similar search in 2019 for standard due diligence purposes.
The foundation is conducting the search to change investment advisors due to challenges surrounding the proximity of its incumbent advisor.
The foundation retained its incumbent provider following a similar search six years ago.
Active management is key to Baylor’s endowment, which has become a top performer among universities. But investment chief David Morehead and managing director Renee Hanna, who run the endowment’s public and private investments, respectively, say cultural factors can’t be overlooked.
Baylor University has traded its way to the top of the university endowment performance rankings. Many universities allocate their money among different assets and adjust periodically. Baylor, led by a former trader, seizes on market moves frequently to boost or cut exposure to its managers.
The foundation has named its next cio following a search for the position as its previous investment head left in last year to join a family office.