Asset Owner Profile: David Holmgren, CIO of Hartford Healthcare

David Holmgren, CIO of Hartford HealthCare, a hospital fund with $3.3 billion in assets under management, paid a visit to Markets Group’s New York City headquarters just prior to the Thanksgiving break and chatted with Institutional Allocator Reporter Kaitlyn Mitchell. Holmgren opined on the passive versus active debate, international politics and his work-life-balance as a …

Single-Digit Level Returns for Developed Equities in 2019: Cambridge Predicts

Analysts, consultants and asset managers have all been weighing in with their 2019 investment outlooks, forecasts and reports. Many are emphasizing the geopolitical and macro-economic risks that are bearing down on the market. Cambridge Associates shares those concerns. “But we also look at fundamentals and valuations, and the picture there is a little less gloomy …

IA Strategy: Univ. of Utah Endowment Eyeing “Specialty” Investments

The $1.1 billion University of Utah endowment is currently talking to several “specialty investment” managers with an eye toward investing in the niche asset class in 2019. “Based on our research, some of the attractive non-correlated strategies we’ve identified are: litigation finance, life settlements, and oil and gas royalties,” said Mark Waite, director of endowment …

The Future of Obligations-Based Investing, Preserving DB Benefit Plans

Panelists at Markets Group’s Sixth Annual Texas Institutional Forum, in Austin, gathered together to tackle the pros and cons of implementing obligation-based or liability-driven investment (LDI) policies at pension funds. The discussion was predicated on the idea that the typically complicated process of administering the investments of a pension plan can be simplified, somewhat, by focusing on a fund’s …

Endowment CIOs Score Seven Percent-Plus Pay Growth: Skorina

The typical endowment chief investment officer’s (CIO) pay has been growing at a compound rate of more than seven percent per year, according executive search firm Charles A. Skorina & Company. In a report published by the firm last week that updates its previous report on CIO compensation published last month (IA, 11/8), the firm says …

IA Strategy: Hartford HealthCare Stays Conservative, with Sprinkling of Alts

Conservative investments paired with choice alternatives have sustained not-for profit Hartford HealthCare’s $3.3 billion hospital fund through market swings over the past eight years, according to Chief Investment Officer David Holmgren. The endowment currently invests around 10% of its portfolio in private equity (PE), while its direct peers invest roughly 30% in the asset class, Holmgren told Institutional Allocator. “We …

Asset Owner Spotlight: Carolyn M. Weiss, CFO, The New York Community Trust

Carolyn Weiss is the chief financial officer and treasurer of The New York Community Trust (The Trust), Community Funds Inc. (CFI), and The James Foundation, a position she accepted approximately five years ago. Weiss is responsible for all financial operations of the three non-profit grant making organizations, which combined manage approximately $2.8 billion in assets. “I …

IA Strategy: Ford Foundation Embraces Affordable Housing, Financial Services

The Mission Related Investment fund at the $13 billion Ford Foundation is seeking investments that support the preservation of affordable housing in the U.S. and expanded access to vital financial services to low-income households in the Global South. According to Christine Looney, deputy director of mission investments, investments in these sectors will be administered through the Foundation’s $1 billion …

Pension, E&F Investment Pros Cautiously Optimistic on Hedge Funds

Though just five percent (or 400) of 8,000 hedge funds (HFs) are even considered investable, according to Joe Marenda, a managing director and hedge fund specialist at Cambridge Associates, “the beauty [of hedge funds] is really in the eye of the beholder—based on portfolio need,” he said. Though institutional investors are currently holding their allocations …

Notre Dame’s CIO Best Paid Among College E&Fs: Skorina

University of Notre Dame endowment’s (AUM $9.4 billion) Chief Investment Officer (CIO) Scott Malpass, Yale University endowment’s ($27.2 billion) CIO David Swensen, and Columbia University endowment’s ($10 billion) CIO Peter Holland took home the most income among endowment CIOs in 2015 (the most recent period for which this data is available), at $4.3 million, $3.9 million, …