Industry News
The trust will have a new investment head at the start of the year as longtime CIO David Gonino is set to retire after 42 years in the industry.
The firm has hired Jeff Runnfeldt to serve as cio of its newly acquired global multi-manager investment platform.
The firm has added two new members to its private assets team to further develop its infrastructure capabilities.
The new global head of sales and marketing succeeds Alexander Preininger, who had been on leave due to personal circumstances and is now departing the firm.
The plan continues to fill out its investment staff with the additions of two new asset class heads.
The firm closed its lower middle market private equity fund with $400 million in commitments.
The acquisition will provide PEM with enhanced growth opportunities.
The current head of the platform will retire early next year.
More than half, 58%, of endowment and foundations are currently invested in private market assets or are considering investing over the next 12 months, according to a survey.
The firm named a partner as head of its U.S. Northeast and Midwest endowment and foundation practice earlier this year.
