Smith College parts with OCIO, will manage its assets in-house
Smith College will hire internal staff to manage its endowment.
Smith College plans to hire its first chief investment officer and manage its $2 billion endowment internally after using outsourced CIO Investure LLC for 16 years.
An open letter to students, staff, faculty and alumni signed by Smith College President Kathleen McCartney and board Chairwoman Alison Overseth said the Northampton, Mass.-based school’s board of trustees “has decided to establish its own in-house investment office” after having “outsourced the management of its endowment to Investure” since 2004. The decision was made “following more than a year of deliberation.”