The Texas A&M Foundation’s longtime vice president of investments, Janet Handley, plans to retire at year end, she confirmed to Institutional Investor.
Alternative investments director Ben Wall is to take over from Handley at the $1.5 billion fund, the outgoing VP said via e-mail.
“After 15-plus years with the Texas A&M Foundation, I am electing to retire,” Handley wrote. “My plans going forward are not set in stone, but I have no doubt my time will be filled productively. I will continue to be engaged with the Texas A&M Foundation, but as a donor, not an employee!”
Handley’s planned departure is the latest in a string of resignations and staff changes at U.S. post-secondary funds. Dartmouth College CIO Pamela Peedin will exit next June, the university recently announced. A search is underway for her replacement.
Harvard appointed its latest endowment leader earlier this fall, hiring Narv Narvekar away from Columbia University. Columbia backfilled the CEO opening by promoting longtime CIO Peter Holland.
The Texas A&M Foundation lost 1.7 percent for the year ending June 30, 2016, versus peers’ -1.36 percent median loss, according to Callan Associates’ data on U.S. endowments and foundations above $1 billion. It gained 4.6 percent versus peers’ 5.96 percent over three years, and 4.7 percent versus peers’ 6.16 percent over the past five years.
During Handley’s tenure, the Texas A&M Foundation’s long-term asset pool, the largest under its management, more than tripled in value, to $1.39 billion.
Leanna Orr is Global Content Director of Investor Intelligence Network (IIN), Institutional Investor’s private community for asset owners.