The organization is seeking retirement plan service providers to handle record keeping, investment management, participant and administrative services to reduce the burden on internal staff.
The firm recently hired a senior investment consultant to work with its growing institutional clients, including foundations, endowments, healthcare plans and retirement plans.
The university approved four private equity commitments, including one with a new manager, as well as a private real assets commitment at its June investment committee meeting.
The institution has hired the cio of a New England-based university to serve as its president and cio, overseeing its multi-billion in endowed assets.
The endowment’s director of operations left last month to join a nearby retirement fund as head of investment operations.
The firm successfully completed its acquisition of the management agreements related to the manager’s Canadian fund business, which totaled approximately $19 billion in assets.
The firm has hired an executive managing director and head of family office services to lead the delivery of its wealth management, fiduciary, tax, estate and administrative services to clients.
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.
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.