The bill would raise the excise tax levied on annual private university endowment profits in line with the corporate tax rate of 21%.
The corporation is searching for firms to establish a state venture capital fund and to act as the manager of the fund, for which the state will be a limited partner.
The university has promoted an investment director to serve as its next investment head as its current cio will retire at the end of the academic year after more than two decades of service.
The firm has hired the former managing director and head of BlackRock’s outsourced cio and central family office to serve as its head of distribution, marketing and client service, where they are responsible for enhancing messaging, expanding distribution channels and marketing initiatives.
The fund will look to commit more than $300 million across private equity and private credit this year as part of the pacing plan to reach its target allocations by the end of the decade.
The university has hired an alumnus to join its investment team as a managing director tasked with designing, sourcing and maintaining a portfolio of alternative investments.
The role had been filled by an investment team member that left last year to join a global private markets manager as a partner focused on primary investments.
The investment consultant will provide advisory services to support the management and optimization of the university’s investment portfolio, which includes defined contribution, optional retirement and voluntary savings plans.
The university has hired Georgetown University CIO Michael Barry as its next investment head following a search from last year.
Frank Mihail joined the North Dakota Department of Trust Lands as cio in January 2023, where he is responsible for overseeing a three-person team and the agency’s approximately $7.5 billion trust fund portfolio. Mihail, who is tasked with managing overall investment strategies and portfolio construction, directing analyses across asset classes in the implementation of multiple investment strategies and monitoring investment performance, money manager reviews and underlying risks, took the time to answer five questions plus one extra with FIN News.