The new cfo to lead development and implementation of the college’s financial strategy, including operations and general oversight of its investment portfolio.
The university has been looking to reduce its exposure to short-term fixed-income.
Nonprofits were busy hiring investment consultants and outsourced cios to oversee their portfolios this year including seven that swapped out their incumbent for new relationships and five that handed over their investment management responsibilities to discretionary providers from either an internal team or a general consultant.
Several nonprofit institutions changed their asset allocations or investment policies this year, boosting allocations to private equity and public equities.
The governor will consider passing a law that would bar state colleges or universities in the state from considering ESG-related factors when making an investment decision.
The university’s previous finance head left after two years in the role.
The position leads the investment strategy for the endowment’s private investments portfolio, which includes private equity buyout, growth equity, private real estate, private energy and venture capital.
The university approved adding a small-cap value equity fund and an all-equity ESG fund as fund options for participants within its defined contribution plan this month.
The foundation made two $1 million loans as part of its impact investment allocation, which targets 5% to investments that align with its mission.
The investment manager will serve as a generalist and source, underwrite, close and monitor investments across asset classes.