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The foundation last conducted a search for the services in late 2018.
The governor vetoed legislation that would have mandated the state’s public universities invest a portion of their endowments into innovation funds, finding it did not adequately recognize the independent fiduciary responsibilities of the institutions.
A wealth and investment advisory firm has agreed to acquire a Philadelphia-based RIA to expand its presence in the region.
A religiously affiliated foundation based in the Midwest has promoted an associate to a director-level position leading investment management.
The trust fund’s general investment consultant recommended the expansion to diversify its public credit portfolio into other credit instruments from exclusively bank loans.
The foundation added a new passive large-cap equity fund to replace two active large-cap strategies within its portfolio to diversify traditional momentum strategies and reduce fees.
The foundation is considering introducing alternatives investments within its portfolio after hiring a new firm to provide non-discretionary investment consulting services to conclude an RFP process from last year.
The organization changed its name to the Andrew Carnegie Foundation to honor its founder on the 115th anniversary of its formation.
Seth Almaliah and John Marco will lead the next era of growth at the investment consulting firm.
The nonprofit is seeking firms to provide discretionary investment management services for its up to $40 million in assets.
