The foundation’s president and ceo will retire in the first quarter of 2023 and the organization is in the process of selecting an executive recruitment firm to help identify the ceo’s successor.
The university approved terminating an active domestic large-cap value equity mandate and transitioning the assets to two passive index strategies alongside plans to ask the state legislature to create a $1 billion permanent endowment.
The firm has announced executive transition plans as its current president and ceo is set to retire next year after 25 years at the firm, including the last eight as its head.
The fund is seeking a firm to provide all program management services, including compliance, investment, administration and record keeping, after hiring a firm in 2018 at the onset of the program.
Institutional investor incorporation of ESG into investment decision-making processes was down year-over-year, however, foundations and endowments integrated ESG at the highest rate, according to a recent survey.
The fund approved transferring the assets of its three portfolios effective Jan. 1 alongside its first investment policy for the combined pool of assets at its November board meeting.
The firm has appointed a chief responsibility officer effective Jan. 9 to oversee its corporate responsibility and responsible investing efforts.
The health system was slated to review a new investment policy statement with a revised target asset allocation at its Nov. 30 meeting, however, the meeting was postponed due to a lack of quorum.
The public school fund selected its incumbent passive equity manager to handle approximately $343 million in October following a search from this summer due to the firm’s contract expiration.
The firm has signed an agreement to purchase a registered investment advisor, which will increase the assets it oversees to approximately $17 billion and expand its West Coast presence.