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The college has hired its first-ever outsourced cio to manage its endowment due to the departure of a senior staff member late last year.
The university has selected a firm to provide investment advisory, management, custodial and reporting services for up to approximately $6 million of its endowment initially following a search from the second quarter.
Fund closes with $34 million in capital commitments over the firm’s intended target.
The analyst will expand the fixed-income team after the plan transitioned those assets in-house last year.
The plan initiated a search last summer seeking a consultant for its deferred compensation and retiree health savings plans.
The position reports to the NYSLRS executive deputy comptroller and the plan’s cio.
The plan made a hire in its search for an investment manager last summer after its incumbent resigned.
The $200 million in total committed capital includes a new manager relationship.
Plan pushed finalist selection and interviews one month each to allow more time to review RFP submissions.
The previous deputy cio left to join a neighboring state plan.