Skorina unveils Ultimate Outsourcer List, Version 3.2

The time has come to update our list of firms providing discretionary investment management services — commonly known as outsourced chief investment officers, aka OCIOs — to institutional clients.

This list should help anyone considering the OCIO option.  We are thinking specifically of board members and directors at pensions, endowments, foundations, and other tax-exempt funds.  You now have a comprehensive list of firms who provide OCIO services and how to reach them.

The future looks sunny for the OCIOs.  Commonfund surveyed the whole landscape for outsourcing nonprofits back in August.

They found that around one-third of all nonprofit funds have already “substantially outsourced” management of their portfolios.  That includes 38 percent of colleges, 38 percent of private foundations, and 30 percent of operating charities.




We’re looking at the business from the other side of the table here: the number of OCIO firms and their claimed assets under discretionary management.

Our list has grown from 45 outsourcers three years ago to 77 today.  That’s a jump of 71 percent.  Some are new firms stepping into the market.  Some are just previously unknown to us.

Reported total AUM under discretionary management is now at approximately $1,027.2 trillion.  That’s an increase of $340.58 billion, or almost 50 percent, from the list we published in July 2012 (AUM $686.62).

It’s a fascinating range of vendors, too.  From relatively small (but often highly-experienced) boutiques to financial giants like JP Morgan.  And discretionary AUMs for individual firms range from “only” a few hundred million up to tens of billions of dollars.

We’ve updated all company and contact names, phone numbers and emails, and confirmed them all correct as of July 2014.

Give them a call.  They would love to hear from you.  Tell them Skorina sent you.

Skorina’s Ultimate Outsourcer List

Outsourced chief investment Officers (OCIO) Ver 3.2

Oct 14, 2014

N.B.: AUM amounts are discretionary unless otherwise noted

Agility (Perella Weinberg)

Christopher Bittman, CIO

Denver, CO

(303) 813-7910


Alan Biller and Associates

Alan D. Biller, CEO & Sr Consultant

Menlo Park, CA

(650) 328-7283

$31.5bn (includes $30.4bn Western Teamsters pension)

Angeles Investment Advisors

Leslie B. Kautz, Principal

Santa Monica, CA

(310) 393-6300

$43bn advisory, $1.7bn discretionary

Appomattox Advisory

Drianne Benner, Director of Institutional Marketing

New York, NY

(212) 546-6247


Artemis Wealth Advisors

Peter M. Rup, Founder & CIO

New York, NY

(212) 838-9000

$753mm$566mm discretionary

Athena Capital Advisors

Lisette Cooper, CEO

Lincoln, MA

(781) 274-9300

$4.8bn$3.5bn discretionary


Rob Ragsdale, Partner

Atlanta, GA

(404) 537-4800



Edward Ng, MD of BR solutions

New York, NY

(212) 810-5300


BNY Mellon Asset Mgmt

Andrew D. Wozniak, Head Fiduciary Management

New York, NY

(412) 236-7940


Cambridge Associates

Deirdre Nectow, Mgn Director

Boston, MA

(617) 457-1781

$139bn advisory, $9.4bn discretionary

Callan Associates

Jim Callahan, Executive VP

San Francisco, CA

(415) 974-5060

$2 trillion advisory, $8.4bn discretionary

Canterbury Consulting

Poorvi Parekh, Director of Outsourced Investments

Newport Beach, CA

(949) 718-2224

$12.5bn advisory, $1.4bn discretionary


Catholic Investment Services

Peter Jeton, CEO

Cambridge, MA

(617) 758-6590

$100mm initial seed investment
Christian Brothers Investment Services

Robert P. Stelben, Head of Institutional Development

New York, NY

(212) 490-0800


Clearbrook Global Advisors

Elliott Wislar, CEO

New York, NY

(212) 683-6686

$30bn advisory, $500mm discretionary


Sarah E. Clark, Mgn Dir strategic solutions

Wilton, CT

(203) 563 -­5254

$24bn total, $6.9bn discretionary

CornerStone Partners

Don Laing, Senior Partner

Charlottesville, VA (434) 296-1400 $6.2bn

Covariance Capital Management (TIAA-CREF)

Cara Howe, Dir business development

Houston, TX

(713) 770-2042


DiMeo Schneider & Assoc.

Robert (Bob) A. DiMeo, Mgn Dir & Co-Founder

Jon Fellows, Partner & Chair,

Discretionary Committee

Chicago, IL

(312) 853-1000

$50bn advisory, $1.5bn discretionary


Matthew W. Wright, President & CIO

Nashville, TN

(615) 490-6007

AUM not available

Discretionary Management Services (DeMarche Assoc.)

Thomas C. Woolwine, President

Overland Park, KS

(913) 981-1345

$27bn advisory, $398mm discretionary

Edgehill Endowment Partners

Ellen Shuman, Mgn Partner

Nina F. Scherago, Mgn Partner

New Haven, CT

(203) 691-7392

(203) 691-7426


Federal Way Asset Mgmt

Salim Shariff, MD & CIO

Michael J. Phillips, Chair & CEO

Federal Way, WA

(253) 236-3535


Fiduciary Research & Consulting

John Boich, President & CIO

San Francisco, CA

(415) 671-4020


Fortress Partners Funds

Alexander Cook, Co-CIO

Stuart Bohart, Co-CIO

New York, NY

(212) 798-6076


Fund Evaluation Group

Gary Price, Managing Principal

Cincinnati, OH

(513) 719-5101

$40bn advisory, $2.8bn discretionary

Gallagher Fiduciary Advisors

Nick Davies, Area President

Washington, DC

(202) 898-2270

$47bn advisory, $2bn discretionary

Gordon Fowler, Jr., President, CEO & CIO
Philadelphia, PA

(215) 419-6640

$25bn total, $9.34bn institutional discretion

Global Endowment Mgmt

Stephanie Lynch, Partner

Charlotte, NC

(704) 333-8282


Goldman Sachs

Kane Brenan, Mgn Director

New York, NY

(212) 855-9851


Hall Capital Partners

Sarah Stein, President

San Francisco, CA

(415) 288-0544

$27.6bn$4.1bn institutional discretion

Hewitt EnnisKnupp (AON)

Steve Cummings, President

Chicago, IL

(847) 295-5000



Brian Chu, Partner

Boston, MA

(617) 406-6500


Hirtle Callaghan

Nicole Kraus, Director Institutional Practice

  1. Conshohocken, PA

(610) 943-4192


Investment Performance Services

David A. Russell, Sr Investment Strategist

Savannah, GA

Newtown, PA

(215) 867-2330

$30bn advisory, $9.6bn discretionary


Ellen Meyer, Client Relations

Charlottesville, VA (434) 220-0280 $10.5bn

J.P. Morgan Asset Mgmt

Monica Issar, Head Endowment & Foundation Group

New York, NY

(212) 464-2852

$2.3 trillion$37bn discretionary (As of Dec, 2013)

Lowe, Brockenbrough & Co.

Christopher Dion, MD & CIO

Richmond, VA

(804) 287-2744

$2bn total, $925mm institutional discretion


Bill Miller, Partner & COO

Menlo Park, CA

(650) 926-0510


Marquette Associates

Tim Burdick, Mgn Dir OCIO program

Chicago, IL

(312) 527-5500

$100bn advisory, $2.5bn discretionary

Mercer (Marsh & McLennan)

Tom Murphy, Senior Partner

Boston, MA

(617) 747-9375


Mangham Associates

Joel R. Mangham, Principal

Charlottesville, VA

(434) 973-2223


Mill Creek Capital Advisors

Richard Stevens, President

Conshohocken, PA

(610) 941-9795

$2.83bn total, $2.25bn discretionary

Morgan Creek Cap Mgmt

Mark Yusko, CEO & CIO

Chapel Hill, NC

(919) 933-4004


Morgan Stanley/Graystone Consulting

Robert Mandel, Exec Director

Franco Piarulli, Mgn Director

Purchase, NY

(914) 225-5420

(914) 225-7254



Steve F. Charlton, Director consulting services

Cambridge, MA

(617) 374-1300


New Providence Asset Mgmt

Lance Odden, Mgn Director

New York, NY

(646) 292-1200


Northern Trust

Margret Duvall, Mgn Dir

Chicago, IL

(312) 444-7336

$88bn$40bn discretionary

Okabena Advisors

Deborah D. Weiss, Managing Director Investment services

Minneapolis, MN

(612) 217-6225


Pacific Global Advisors

David A. Oaten, Managing Director

New York, NY

(212) 405-6400

$20bn discretionary

Partners Capital

Paul Dimitruk, Chair & Partner

 Boston, MA & UK

(617) 292-2575

 $13bn total, $6.8bn institutional discretion

Pentegra Retirement Services
Sarah Coxe Lange, Nat Sales Director
White Plains, NY
(914) 821-9563
$9bn, $7.5bn discretionary
Permanens Capital

John J. Regan, CIO

New York, NY

(212) 358-6532


Post Rock Advisors

Carol B. Einiger, President

New York, NY

(212) 838-7100

AUM not available
Pyramis Global Advisors

Jim Zadrozny, SVP institutional sales

Smithfield, RI

(401) 292-4760

$200bn global, $14bn discretionary

Rocaton Investment Advisors

John Hartman, Mgn Director

Norwalk, CT

(203) 621-1717

$400bn advisory, $5.2bn discretionary

Rockefeller & Co.

Michael R. Marsh, Director

Nonprofit Investment Services

NY & D.C.

(202) 719-3012

$43.8bn total, $10.6bn discretionary

Russell Investments

Eric Macy, Mgn Director

New York, NY

(212) 702-7941

Russell states: $200bn advisory (3/31/14)

$115bn OCIO global institutional clients

$87.8bn OCIO US institutional clients

Salient Partners

John A. Blaisdell, CEO

Houston, TX

(713) 993-4675


SECOR Asset Management

Tony Kao, Managing Principal

New York, NY

(212) 980-7350


Segal Rogerscasey

Peter Gerlings, SVP Institutional solutions

Darien, CT

(617) 424-7357

$3.6bn discretionary

SEI Institutional Group

Paul F. Klauder, VP & Managing Director

Oaks, PA

(610) 676-2225



Jon Havice, CIO

Minneapolis, MN

(612) 252-9379

$110bn, $5bn discretionary

Spider Management Co.

Rob Blandford, President, CIO

Richmond, VA

(804) 200-6917


Spruce Private Investors

John Bailey, CEO

Stamford, CT

(203) 428-2600


Spruceview Capital Partners

John A. Garibaldi, Partner

New York, NY

(212) 485-8617

AUM not available

State Street Global Advisors

Yeng Butler, Head of Fiduciary solutions

Matt Kelley, VP Fiduciary solutions

Boston, MA

(617) 664-2014


(617) 664-2433


Strategic Investment Group

Deborah Boedicker, Mgn D

Arlington, VA

(703) 236-1620

$35.6bn70% discretionary

Summit Solutions (Summit Strategies Group)

Drew Pfeifer, SVP institutional solutions

Saint Louis, MO

(314) 446-5382

$24.5bn discretionary

SunTrust Bank

Alan McKnight, Jr., Head of Institutional Investments

Atlanta, GA

(404) 813-9059


Towers Watson Investment Services

Debra Woida, Head, Delegated Investment Services, Americas

Jane Armstrong, EU head Delegated Investment Services

Chicago, IL


(312) 525-2336


01737 284860

$58bn discretionary

The Investment Fund for Foundations (TIFF)

Larry Mangan, Head of Member Services

Radnor, PA

(610) 684-8202

$11bn discretionary


William Drobny, Head Institutional Marketing

Chicago, IL

(312) 525-7100


US Trust Bank of America

Joseph Curtin, Mgn Director

New York, NY

(212) 852-3858

$29bn discretionary


Kevin T. Jestice, Principal

Malvern, PA

(610) 669-6449


Verger Capital Management

Tommy Elrod, Dir bus develop

Winston-Salem, NC

(336) 758-4129

$1.2 bn discretionary

Wells Fargo -Institutional Asset Advisor Group

Rob Kent, VP national sales dir

Overland Park, KS

(913) 234-2929

$21bn discretionary

Wilshire Associates

Julia K. Bonafede, President of Consulting

Santa Monica, CA

(310) 451-3051

$964bn advisory, $6.7bn discretionary (As of Sept, 2013)

Wurts & Associates

Jeffrey C. Scott, CIO

Seattle, WA

(206) 622-3700


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