Multi-boutique manager platform Spouting Rock Asset Management has agreed to acquire Stewart Asset Management.
The plan’s new investment officer joins from an East Coast pension fund.
Investment consultant NEPC today announced the election of seven new partners and the promotion of eleven new principals across the firm.
The senior portfolio manager will depart Dec. 31 after nearly 16 years at the firm.
The plan has worked with its incumbent investment advisor since 2009.
The plan added the short-term fixed-income mandate in a “defensive move” recommended by its consultant.
The firm welcomes former energy and power head at HPS Investment Partners in the newly created position.
The plan added a $10 million commitment to a fund-of-funds vehicle last month.
The plan added a follow-on private real estate commitment earlier this quarter.
Plan’s exposure to the cryptocurrency exchange represents less than 0.01% of the total portfolio.