Equity
The managing director of a Northeastern university has joined a mid-Atlantic-based foundation as v.p. to oversee its public equity, public real assets and public fixed-income portfolios.
The watch placement comes as the firm’s global cio resigned last month.
The institution approved completely liquidating a domestic large-cap growth equity strategy and an Asian hedge fund strategy last quarter.
The foundation added impact private equity and emerging markets equity strategies with new managers within its endowment in the first half of 2023.
The restructuring resulted in the termination of two active managers.
The plan launched a search to replace its incumbent in July due to organizational changes as well as underperformance.
The plan is searching for managers to handle more than $850 million.
The foundation amended its asset allocation policy, removing its allocation to special purpose acquisition company assets, and added several commitments within its endowment during its second quarter investment committee meeting.
The plan has current managers in the two asset classes.
The firm has launched three actively managed, equity mutual funds focused on generating competitive investment returns through responsible investing.