Daily Feed
The new investment consultant was hired last week following a search that was relaunched in May.
Elizabeth Goldsberry is responsible for financial matters, reporting, risk management and internal controls for the Kresge Foundation’s approximately $3.9 billion investment portfolio.
The plan is looking to replace Nicole Musicco, who departed at the end of September.
The plan will search for a firm to review its RFP process impacted by recent legislation.
The plan approved retaining up to $10 billion in liquid markets exposure through the program at its investment committee meeting yesterday.
The new consultant was hired at a board meeting today following an invitation-only search initiated earlier this year.
The two finalists were selected yesterday and will interview with the plan’s board in November.
The plan is seeking small- to mid-cap growth and value equity managers as it considers a streamlining of its domestic equity portfolio.
An inverted yield curve historically tends to signal an impending recession.
The new allocation increases its fixed-income target at the expense of domestic equity.