The university approved private equity, real estate and venture capital commitments with new and existing managers within its endowment toward the end of the second quarter.
Jacky Shen suspects he was the oldest intern Simon Fraser University’s treasury department ever had.
It was 2007, he was in his early 40s, had just arrived in Canada with his family and was studying for a master’s degree in the university’s wealth management program. As an intern, Shen — now the university’s treasurer and director of investment — joined a department responsible for investing several endowment funds, trusts and pension plans that now have net assets of $1.1 billion.
US college endowments are rebounding from their worst returns since the Great Recession, but increased costs to pay for buildings, salaries and financial aid are cutting into those gains.
The firm has hired two senior professionals to expand its distribution presence in Europe and Asia.
The institution elected two new board of trustee members and recognized three members becoming life trustees at a May meeting.
The college named two senior professionals at investment advisory firms to its board of trustees at the end of July.
The fund revised the investment policy statement and asset allocation for its portfolio in the second quarter, consolidating its private real estate and private real assets allocations.
The university hired an investment associate in the second quarter to assist in due diligence of prospective fund investments and monitor existing investments.
The fund is seeking a senior investment analyst to perform investment and operational due diligence on prospective and existing equity-oriented investments.
The fund may consider revising its investment policy statement and asset allocation following discussions with its general investment consultant at its August board meeting.