Selected firm will serve as a discretionary investment manager as well as help update the investment policy and monitor fund holdings.
The college hired an investment officer from a nearby institution to help oversee and manage its endowment following a search from late 2021.
The school is searching for a cfo as its finance head left to join a family office earlier this year.
The commitment appears to represent a new relationship for the university.
Plan doubled the size of its social impact investment fund to $400 million from $200 million at its launch in 2018.
All participating institutions had more than 5% of their U.S.-based assets with diverse-owned firms, however, more than two thirds of the wealthiest 25 private and 25 public college and university endowments refused to participate in an assessment of the diversity of their asset managers.
The fund will consider approving a new strategic asset allocation for its portfolio as well as review the cost and benefits of hedging the fund’s oil and gas revenues as requested earlier this year.
Consultant will assist in the administration of its 529 plans due to the upcoming contract expiration of its incumbent provider, which has been providing the services for more than a decade.
The university named its assistant v.p. for finance and controller as interim cfo and senior v.p. for operations as its conducts a national search for the position.
The company promoted its deputy cio to the role of investment head as its ceo and cio concentrates on leading the organization.