After three years at the helm, Children’s Healthcare of Atlanta’s chief investment officer Neil Nag has resigned, according to two sources familiar with the matter.
The $6 billion healthcare fund brought Nag into the fold in 2018 with “much excitement,” according to one of those sources.
A spokesperson for Children’s Healthcare of Atlanta declined to comment on staffing matters, including whether it will name an interim chief investment officer. Nag did not respond to messages seeking comment on the news and details on where he’s heading next.
During his tenure at Children’s, Nag “tried to hire an army to build an in-house team,” the source said. Since he joined in April 2018, he brought in at least seven people, LinkedIn shows. They include three poached from Emory amid the endowment staff’s 2019 exodus: Mike Negussie, Arvind Rangaraj, and Joe Grenier, each of whom is now an investments director at CHOA.
Other hires include Scott Clancy from Northwestern University, Todd Lusk from Rocaton Investment Advisors, Ryan Karaian from Public Sector Pension Investments, and Sarah Howie, who joined from Gulfstream Alternative Capital.
Nag joined Children’s from the YMCA Retirement Fund, where he worked for four years as a senior portfolio manager. Prior to his time at YMCA, Nag was the director of Memorial Sloan Kettering’s investment office where he sourced investment opportunities and managed the fund’s research and reporting process.
His early career included jobs at Barclays Capital, Wells Fargo, and MetLife, according to Children’s 2018 announcement that he had been hired.
“On the bright side, it’s one of the best CIO jobs in the country now open,” according to the source, adding that Nag leaves behind a “huge pool of money that needs attention and an incredible mission at one of the premier children’s hospitals in the country. Every parent in the South loves CHOA.”