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The firm appointed a regional director of its Cleveland office to lead its team of planning, fiduciary and investment professionals.
The firm’s latest fund targeting value-added investments in hotels across the U.S. was oversubscribed after receiving commitments from endowments, foundations, public and corporate pension plans, insurance companies and wealth management firms.
The university added an analyst to help conduct research and analysis on financial markets as well as existing and prospective investment managers.
The college savings plan approved asset allocation changes to its actively managed and passively managed enrollment year investment portfolios at its board meeting last month in response to significant structural shifts seen in the market over a short period.
The firm recently expanded its leadership team with the appointments of two managing directors of institutional services.
The commitments include three new relationships for the plan.
As U.S. professionally managed assets declined in 2022, Cerulli Associates’ latest report found a temporary trend reversal where institutional channel assets gained a slight edge over retail.
The plan replaced its domestic mid-cap growth equity manager due to underperformance.
The plan made several commitments in alternatives asset classes in November and December.
The hire concludes a search that was launched in August.