A prominent Southern university has committed to a new venture fund focused on Black-owned and -led healthcare companies alongside other institutional investors.
The foundation, formed from the recent acquisition of a regional hospice and palliative care provider, is searching for a firm to help update the governance and investment management process for its portfolio.
The new associate director of investments joins from a mid-Atlantic outsourced cio, where he was responsible for asset allocation and portfolio management.
The institution increased its allocation to venture capital and domestic equity allocations last week through target reductions to diversifying investments, international developed equity and emerging markets equity.
The institution added a short-duration fixed-credit strategy and structured credit vehicle to its endowment last week as it looks to focus on risk mitigation given volatility in the equity and fixed-income markets.
The university has named its interim cio and senior investment officer as its new cio after its previous investment head left at the beginning of the year to lead a nearby family office.