Jim Steinbugl, an investment officer who worked on private equity and other asset classes at Johns Hopkins University’s endowment, has departed the endowment to join Penn State University’s endowment, David Branigan, chief executive officer, Office of Investment Management at Penn State, confirmed. “Yes, we hired Jim into a new position a couple of weeks ago,” Branigan wrote in an email to IA. “I should note that the size of our investment staff is relatively small compared to many of our peers. Each person is considered to be a ‘generalist’; however, we each take a lead role in certain asset classes. We envision Jim as initially focusing on real assets and U.S. equities,” Branigan added.
Steinbugl’s position is new, and he will report to the university’s long-term investment pool’s (LTIP) Deputy CIO, Sonali Dalal. The LTIP totals approximately $4.1 billion and has 5.5 full-time staffers (Branigan counts himself as the 0.5 staffer). Steinbugl did not respond by press time to an email to his LinkedIn page seeking comment on his move.
An official in Johns Hopkins’ Office of Communications confirmed that Steinbugl departed the approximately $3.8 billion endowment on Dec. 31, 2018, “after more than 12 years of excellent service to Johns Hopkins, to move back home to Pennsylvania and pursue an opportunity to contribute in a similar capacity at his alma mater, Penn State University. “We are excited for Jim on all fronts and will miss his contributions,” the official said, declining further comment on Steinbugl. He also declined to confirm, deny or otherwise comment on a recent news report that the endowment was seeking to sell a portfolio of private equity fund stakes totaling $500 million late last year.