All good things must come to an end. After 14 years as CIO of the Pennsylvania State Employees’ Retirement System, Peter Gilbert, 60, will head east this summer to Bethlehem, where he will take on the newly created job of endowment chief at Lehigh University. Gilbert is relinquishing control of the $32 billion state fund to oversee a considerably smaller portfolio: Lehigh’s fund totals $1 billion. The university’s board of trustees decided that it was time to bring in an investment professional after recently hitting the billion-dollar threshold; a volunteer subcommittee of the board has managed the endowment for the past 25 years. “I’m looking forward to working in an academic community,” says Gilbert. PennSERS has not yet named a successor.
