Our latest Outsourced Chief Investment Officer (OCIO) report below features one-hundred-four firms managing industry assets of $3.27 trillion as of March 31, 2021, an increase of 15% over the prior six months.

By comparison, last year we reported 15.8% growth for the entire twelve-months ending September 30, 2020.

All things equity – public markets, private equity, venture capital — produced a year for the ages and our herd of OCIO providers kept pace with the bulls.  Overall OCIO growth matched Alpha’s broad market index and slightly trailed Alpha’s moderate endowment and foundation diversified style index.

One-year Performance

ending 3-31-21

Broad Market

30.69

Endowment & Foundations

35.77

Aggressive Asset Allocation

46.34

Moderate Asset Allocation

33.17

Conservative Asset Allocation

7.71

MSCI ACWI

55.31

S&P 500

56.35

Bloomberg Barclays

US Aggregate

0.71

60% MSCI ACWI /

40% Bloomberg Barclays US Agg

31.12

 

The OCIO Story

Our friend Jon Hirtle, of Hirtle, Callaghan & Co, officially launched the OCIO service model in 1988 (with fellow Goldman Sachs vet Don Callaghan) and it’s been full steam ahead ever since.

(See Jon Hirtle’s iconoclastic guest commentary below –– and his full article OCIO My Foot! here.  We welcome all points of view)

The core idea was to offer a diversified and full-discretion money management function to family offices and institutions who could no longer effectively or affordably manage the money in-house.

OCIO firms offer the proven performance of the best endowment and foundation investment managers at a reasonable price.  And they can replicate the entire investment office with the process and structure to cope with the complexity of modern portfolios and mounting operational and regulatory burdens.

We’ve been charting the growth of the OCIO industry for well over a decade in our annual OCIO reports and the heirs of Hirtle, big and small, seem mostly to have flourished.

Today the industry is bifurcated, highly diverse, intensely competitive, and the nine largest providers on our OCIO list – Aon, Blackrock, Goldman Sachs, Mercer, Northern Trust, Russell, SEI, SSgA, and Willis Towers Watson – with their size and resources dominate the largest segment, corporate pensions.

These nine firms control nearly two trillion in OCIO assets or 60% of the outsourced segment, but from what we hear and see, the market for discretionary asset management services among foundations and family offices shows no sign of slowing.

 

Company

% Change in

AUM

Discretionary

OCIO AUM

as of 3-31-21

Mercer

(Marsh & McLennan)

23.90%

$379bn

Russell Investments

14.78%

$269bn

BlackRock 

7.89%

$246bn

Goldman Sachs

23.63%

$208bn

SEI Institutional

14.75%

$208bn

AON Hewitt 

25.02%

$203bn

State Street

Global Advisors

24.45%

$181bn

Willis Towers Watson

13.34%

$168bn

Northern Trust

15.22%

$102bn

9 firms, 60% of

OCIO AUM

60.05%

$1,964bn

Total OCIO AUM

 

$3,274bn

 

We publish this semi-annual OCIO report in our newsletter and on our website for both institutions and high-net-worth families who are considering an OCIO provider and would like a convenient way to review and reach firms.

Go ahead and call a few if you’re in the market for money-management help.  They will be happy to hear from you.

Guest Opinion: Jon Hirtle

When I am asked what an OCIO does, my answer is simple, “The same thing an internal CIO does.” So, functionally, “CIO” and “OCIO” are interchangeable and, structurally, they should be identical.

–Jon Hirtle

Outsourced Chief Investment Officer (OCIO) is one of the fastest growing areas in investment management.

Charles Skorina, publisher of The Skorina Letter and acknowledged expert on tracking growth within the OCIO marketplace, recently published a list of 104 firms who claim to be delivering OCIO services.

When one considers what is required to deliver the benefits of OCIO, that is an independent investment office and your own Chief Investment Officer capability, the vast majority of those firms do not measure up.

A real OCIO search begins by eliminating pretenders from consideration.

▪ Traditional investment governance has been challenged by a tipping point of complexity and noise brought on by globalization and investment product innovation.

Consequently, Wall Street’s buyer-beware social contract is long past its expiration date when it comes to serious investors with serious responsibilities.

▪ The advantages of a sophisticated, conflict-free independent investment office with multibillion-dollar access are undeniable.

Decades ago, in order to deal with that tipping point of complexity and noise, sophisticated, multibillion-dollar investors like the R.K. Mellon Foundation and Yale University developed their own, independent investment offices led by a carefully selected, highly qualified C-suite executive called a Chief Investment Officer.

▪ Outsourced Chief Investment Officer (OCIO) is an important, cost-effective innovation.

When executed well, OCIO can deliver the advantages of a sophisticated, conflict-free, multibillion-dollar, independent investment office and transform Wall Street’s archaic buyer-beware social contract into one of trust, collaboration, and reliable success.

▪ Confusion created by widespread misuse of the term “OCIO” threatens to derail its transformative power.

Growth in OCIO has attracted banks, traditional investment-product firms, consultants, and start-ups who claim they too can provide OCIO services, despite structural conflicts of interest and cultural mismatches that disqualify them.

▪ Three requirements eliminate 75% of the firms on Skorina’s list leaving approximately 25 true OCIO firms for in-depth consideration.

When selecting an OCIO (or building an independent, internal investment office) wise investors will require a conflict-free structure, capability that is unconstrained by purchasing power and a point-accountable, investment-management culture.

As more and more thoughtful investors recognize the power and promise of OCIO, it’s time to review its three primary requirements.

  1. A Conflict-Free Structure

OCIO requires a structure that is conflict free and truly open architecture with no products or hidden corporate agendas to confound decision making.

  1. Purchasing Power

OCIO requires sufficient purchasing power to pay for the talent and support to fully exploit global complexity, noise, and opportunity.

  1. An Investment Management Culture

OCIO requires a point-accountable, investment management culture.

Those three essentials eliminate all banks, product firms, small firms, and consultants: 75% of the Skorina list.

–Jon Hirtle

For the full article, see HC Opinion: OCIO My Foot!

Download this newsletter as PDF

————————————————–

OCIO Company Guide 2021

Outsource Chief Investment Officer (OCIO)

Company Guide 2021

Charles Skorina & Company

https://www.charlesskorina.com  skorina@charlesskorina.com

Office: 520-529-5677 

(AUM as of March 31, 2021 unless otherwise noted)

——————————————————————————–

Abbot Downing (Wells Fargo), Minneapolis, MN

$41.5bn Discretionary assets

$46.6bn total

Douglas W. Evans, Head of Portfolio Managers

douglas.evans@abbotdowning.com

(415) 222-1490

————————————————————

  1. Agility, Denver, CO

$12.1bn Discretionary assets

Chris Bittman, Partner

cbittman@agilitycio.com

(303) 813-7910

————————————————————

  1. Alan Biller and Associates, Menlo Park, CA

$64.9bn Discretionary assets

$102.2.bn total

Alan D. Biller, Chairman

John Skjervem, CEO

info@alanbiller.com

(650) 328-7283

————————————————————

  1. Alesco Advisors, Pittsford, NY

$4.33bn Discretionary assets

$4.9bn total

Todd D. Green, Principal, Business Development

& Client Service

TGreen@alescoadvisors.com

(585) 749-0357

————————————————————

  1. Angeles Investment Advisors, Santa Monica, CA

$7bn Discretionary assets

$34.8bn advisory

Michael A. Rosen, CIO & Managing Partner

mrosen@angelesadvisors.com

Chaunice A. Peebles, Director

chaunice@angelesinvestments.com

(310) 393-6300

————————————————————

  1. AON, Chicago, IL

$203.4bn Discretionary assets

$3.1 trillion advisory

Ed Bardowski, CSCP, Partner, Sales Leader

& Registered Principal

ed.bardowski@aon.com

(484) 941-1409

————————————————————

  1. Appomattox Advisory, New York, NY

$1.7bn Discretionary & non-discretionary assets

Susan Webb, Founder, President, CIO

Oscar Gil, Founder, CEO

Drianne Benner, Managing Director Sales

dbenner@ainvadvisors.com

(212) 895-3012

————————————————————

  1. Arnerich Massena, Portland, OR

$1.26bn Discretionary assets

$3.5bn total

Ryland Moore, Managing Principal,

Business Development

rmoore@am-a.com

(971) 263-7860 dir

(503) 239-0475 x147

————————————————————

  1. Artemis Wealth Advisors, New York, NY

$1.534bn Discretionary assets

$1.722bn total

Peter M. Rup, Founder & CIO

prup@artemiswa.com

Ron Zdrojeski, Director

Business Development

(212) 838-9000

————————————————————

  1. Arthur J. Gallagher & Co., Washington, DC

$6.03bn Discretionary assets

$69.19bn advisory

Michael W. Johnson, Area President

Institutional Investment & Fiduciary Services

michael_w_johnson@ajg.com

(202) 898-2270

————————————————————

  1. Asset Strategy Consultants, Baltimore, MD

$2.1bn Discretionary assets

Alfred J. Morrison, Managing Principal

morrison@assetstrategyconsultants.com

(410) 528-8282 x1043

Andrew W. Conner, CIO

conner@assetstrategyconsultants.com

(410) 528-8282 x1041           

————————————————————

  1. Ballentine Partners, Waltham, MA

$9.1bn Discretionary assets

$17.7bn total

Jayson DeAngelis, Partner

jdeangelis@ballentinepartners.com

(781) 314-1316

————————————————————

  1. Bank of America, New York, NY

$35.3bn institutional Discretionary assets

$324.8 total Discretionary assets

Bernard Reidy, Managing Director, National

Endowment and Foundations Executive

bernard.reidy@bofa.com

(203) 571-5341

————————————————————

  1. BBR Partners, New York, NY

$18.5bn Discretionary assets

$20.8bn total

Todd Whitenack, Co-Managing Partner

twhitenack@bbrpartners.com

(212) 313-9875

————————————————————

  1. Beacon Pointe Advisors, Newport Beach, CA

$15.8bn OCIO Discretionary assets

$19.8bn total

Felix Lin, Partner, President

Institutional Consulting Services

Mike Breller, Managing Director, Sr. Consultant

mbreller@beaconpointe.com

(949) 718-1602

(949) 718-1600 Newport Beach main

————————————————————

  1. BlackRock, New York, NY

$246bn global Discretionary assets

Jeff Saef, Managing Director, Head Americas

& Client Portfolio Solutions

jeffrey.saef@blackrock.com

(609) 282-8950

————————————————————

  1. Blue Edge Capital, Richmond, VA

$475mm Discretionary assets

$500mm total

Peter H. Bowles, Managing Director

pbowles@blueedgecap.com

(804) 673-7404

————————————————————

  1. BNY Mellon, New York, NY

$16.6bn Discretionary assets

$34bn total

Jamie W. Lewin, Head of Investor Solutions

jamie.lewin@bnymellon.com

(212) 922-4524

Andrew D. Wozniak, Head of Client Consulting

& Investor Solutions

andrew.wozniak@bnymellon.com

(412) 236-7940

————————————————————

  1. Brown Advisory, Baltimore, MD

$7.6bn OCIO Discretionary assets

$59bn total Discretionary assets AUM

Brigid Peterson, Head Endowment & Foundations

bpeterson@brownadvisory.com

(410) 537-5379

————————————————————

  1. Brown Brothers Harriman, New York, NY

$47.7bn Total discretionary assets

Tom Davis, Managing Director

thomas.davis@bbh.com

(212) 493-8699

————————————————————

  1. Callan, San Francisco, CA

$28bn Discretionary assets

$2.5trillion advisory

James A. Callahan, President

callahan@callan.com

(415) 974-5060

————————————————————

  1. Cambridge Associates, Boston, MA

$47.3bn Discretionary assets

$529bn advisory

Deirdre Nectow, Managing Director

dnectow@cambridgeassociates.com

(617) 457-1781

————————————————————

  1. 23. Canterbury Consulting, Newport Beach, CA

$3.1bn Discretionary assets

$24.8bn advisory

Robinson (Bob) Cluck, Chairman

bcluck@canterburyconsulting.com

(949) 718-2229

Poorvi Parekh, Director OCIO

pparekh@canterburyconsulting.com

(949) 718-2224

————————————————————

  1. Clearbrook Global Advisors, New York, NY

$1.7bn Discretionary assets

$14bn advisory

Elliott Wislar, CEO

ewislar@clrbrk.com

Gregg Sibert, Chief Marketing Officer

gsibert@clrbrk.com

(212) 683-6686

————————————————————

  1. Commonfund, Wilton, CT

$12.9bn Discretionary OCIO assets

$26.5bn total AUM

Mark Anson, President, CEO & CIO

Tim Yates, President, CEO & OCIO

tim.yates@commonfund.org

(203) 563-5238

————————————————————

  1. CornerCap Institutional, Atlanta, GA

$1.3bn Discretionary assets

Derek Tubbs, VP Institutional Development

dtubbs@cornercap.com

(404) 870-0700

————————————————————

  1. CornerStone Partners

(Focus Financial), Charlottesville, VA

$8.64bn Discretionary assets

$10.04bn total

David Russell, Sr. Managing Director

drussell@cstonellc.com

Christopher Laing, Sr. Managing Director

claing@cstonellc.com

(434) 293-7759

————————————————————

  1. Crewcial Partners, New York, NY

$1.3bn Discretionary assets

$36bn advisory

Charlie Georgalas, Managing Director

ccg@crewcialpartners.com

(212) 218-4900

————————————————————

  1. DeMarche, Merriam, KS

$1.25bn Discretionary assets

$20.1bn advisory

Thomas C. Woolwine, Vice Chairman,

twoolwine@demarche.com

(913) 384-4994

————————————————————

  1. Deutsche Bank, New York, NY

$14.93bn Discretionary assets (9-30-20) 

$6.74bn advisory

Brett Lane, Head of Institutional Advisory Services

brett.lane@db.com

(212) 454-0816

————————————————————

  1. Disciplina, Nashville, TN

$1.5bn Discretionary assets

Matthew W. Wright, President & CIO

mww@disciplina.com

(615) 490-6007

————————————————————

  1. Edgehill Endowment Partners, New Haven, CT

$2.2bn Discretionary assets

Nina F. Scherago, Co-Founder and Managing Partner

n.scherago@edgehillendowment.com

Jason Raiti, Partner

j.raiti@edgehillendowment.com

Christin Sandweiss, Director Client Service           

c.sandweiss@edgehillendowment.com

(203) 654-3553

————————————————————

  1. Ellwood Associates, Chicago, IL

$1.5bn Discretionary assets

$82.7bn advisory

Andrew Schwark, Director OCIO Consulting

andy.schwark@ellwoodassociates.com

(312) 782-5432

————————————————————

  1. Evoke | ARIS, Los Angeles, CA

$7.5bn discretion

$14bn advisory

Brendan Corcoran, Senior Vice President

BCorcoran@arisconsulting.com

(617) 233-0428

————————————————————

  1. FEG Investment Advisors, Cincinnati, OH

$8.7bn Discretionary assets

$64bn advisory

Rebecca (Becky) S. Wood, President & CEO

bwood@feg.com

Devinne C. Kelly, Sr. Client Development Associate

dkelly@feg.com

(513) 827-3204

————————————————————

  1. Fidelity Institutional AM, Smithfield, RI

$35bn Discretionary assets (9-30-20)

$1.03trillion global

Jim Zadrozny, SVP Co-Head of Institutional Sales

jim.zadrozny@pyramis.com

(401) 292-4760

(401) 209-0523 cell

————————————————————

  1. Fiduciary Trust Company, Boston, MA

$7.2bn Discretionary assets

$19bn total

Rick Tyson, Vice President & Investment Officer

tyson@fiduciary-trust.com

(617) 292-6799

————————————————————

  1. Fiduciary Trust International, New York, NY

$8.6bn OCIO advisory solutions (12-31-20)

$32bn total

Ronald Sanchez, CIO

rsanchez@ftci.com

Kate Huntington, Head of Advisory Solutions Group

kate.huntington@fiduciarytrust.com

(877) 384-1111

————————————————————

  1. Fiduciary Wealth Partners, Boston, MA

$1.2bn Discretionary assets

$2.1bn total

Preston McSwain, Managing Partner

preston@fwp.partners

(617) 602-1901

————————————————————

  1. Fiducient Advisors (x DiMeo), Chicago, IL

$10.7bn Discretionary assets

$215.4bn advisory

Robert (Bob) DiMeo, CEO

bdimeo@fiducient.com

Jon Fellows, Partner & Chairman

jfellows@fiducient.com

Matt Porter, Partner & Vice-chairman Fiduciary

Investment Advisors  

mporter@fiducient.com

(312) 853-1000

————————————————————

  1. F.L. Putnam IMC, Wellesley, MA

$3.7bn Discretionary assets

$4.1 Billion Total assets

Chris McVey, Director of Business Development

cmcvey@flputnam.com 

(781) 591-8265

————————————————————

  1. Gallagher Fiduciary Advisors, Wash., DC

$6.03bn Discretionary assets

$69.19bn advisory

Michael Johnson, President

michael_w_johnson@ajg.com

Phil Fabrizio, Area Director

(202) 898-2270

————————————————————

  1. Gerber Taylor, Memphis, TN

$6.3bn Discretionary assets

$7.6bn advisory (12-31-20)

Charles Gerber, President

cgerber@gerbertaylor.com

Matthew Kinnear, Client Development

mkinnear@gerbertaylor.com

(901) 526-9750

————————————————————

  1. Glenmede, Philadelphia, PA

$10.1bn tax-exempt OCIO

$41.6bn total

Gordon Fowler, Jr., President & CEO

gordon.fowler@glenmede.com

(215) 419-6640

————————————————————

  1. Global Endowment Management, Charlotte, NC

$11.7bn Discretionary assets

Stephanie Lynch, Partner

slynch@globalendowment.com

(704) 333-8282

————————————————————

  1. Global Strategic Investment Solutions,

Scottsdale, AZ

$1.1bn Discretionary assets

Don Callaghan, Managing Partner

dcallaghan@gsisus.com

(480) 935-2134

————————————————————

  1. Goldman Sachs, New York, NY

$207.7bn Discretionary assets

Gregory Calnon, Managing Director

gregory.calnon@gs.com

(212) 855-0124

————————————————————

  1. Hall Capital Partners, San Francisco, CA

$15.2bn Discretionary assets

$43.5bn total

Sarah Stein, Managing Partner

sstein@hallcapital.com

(415) 277-2634

Sarah Butler, Business Development Manager

sbutler@hallcapital.com

(415) 217-2449

————————————————————

  1. Highland Associates, Birmingham, AL

(RIA owned by Regions Bank)

$10.5bn Discretionary assets

$31.2bn total

Trey Echols, CEO

Paige Daniel, Managing Director

pdaniel@highlandassoc.com

(205) 939-8308

————————————————————

  1. Hirtle Callaghan, W. Conshohocken, PA

$17.8bn Discretionary assets

Erica Evans, Head Client Engagement

eevans@hirtlecallaghan.com

(610) 943-4100

————————————————————

  1. Holt Capital Partners, Fort Worth, TX

$380mm total

Robert M. Holt, Jr., Managing Partner

rholt@holtcap.com

(817) 877-1430

————————————————————

  1. ICG Advisors, Los Angeles, CA

$564.98mm Discretionary assets (12-31-20)

$4.15bn advisory

  1. Jeffrey Assaf, Sr.. Managing Director & CIO

jassaf@icgadvisors.com

(424) 270-8900

————————————————————

  1. Investure, Charlottesville, VA

$17bn Discretionary assets

Bruce Miller, CEO

bmiller@investure.com

Puja Seam, COO

pseam@investure.com

(434) 220-0280

————————————————————

  1. Jasper Ridge Partners, Menlo Park, CA

$27.5bn Discretionary assets

Cori Duncan, CEO & Managing Partner

cduncan@jasperridge.com

(650) 494-4831

————————————————————

  1. JPMorgan Asset & Wealth Management,

New York, NY

$68bn OCIO Discretionary assets

$2.8trillion total

Monica Issar, Global Head Multi-Asset

& Portfolio Solutions

monica.issar@jpmorgan.com

(212) 464-2852

————————————————————

  1. LCG Associates, Atlanta, GA

$990mm Discretionary assets (12-31-20)

$101bn advisory (6-1-21)

Lauren Moore, VP Marketing

lcangelosi@lcgassociates.com

Ed Johnson, President & CEO

ejohnson@lcgassociates.com

(770) 644-0100

————————————————————

  1. Litman Gregory AM, Walnut Creek, CA

(Bought by iM Global Partners, close 2nd Q 2021)

$2.2bn Discretionary assets

$6.3 bn total

(iM Global Partner)

Bill Thompson, Director, Endowments & 

Foundations Group, Senior Advisor

bill.thompson@lgam.com

(415) 464-5808

————————————————————

  1. Lowe, Brockenbrough, Richmond, VA

$1.8bn Institutional Discretionary assets

$3.0bn total

Austin Brockenbrough III, Chairman

abiii@lowebrockenbrough.com

Christopher Dion, Managing Director & CIO

cdion@lowebrockenbrough.com

(804) 287-2744

————————————————————

  1. Makena, Menlo Park, CA

$18bn Discretionary assets

Joseph Magher, Managing Director

jmagher@makenacap.com

(650) 926-1339

————————————————————

  1. Mangham Associates, Charlottesville, VA

$1.9bn AUM

Joel R. Mangham, Founder Co-CIO

Edward W. Karppi, Partner, Co-CIO

Joel Streeter, VP

JoelP.Streeter@manghamassociates.com

(434) 973-2223

————————————————————

  1. Marquette Associates, Chicago, IL

$12.2bn Discretionary assets

$284.9bn advisory

Brian Wrubel, President & CEO

bwrubel@marquetteassociates.com

Patrick McDowell, SVP, OCIO Services

pmcdowell@marquetteassociates.com

(312) 527-5500

————————————————————

  1. Meketa Investment Group, San Diego, CA

$20.6bn Discretionary assets

$1.6 trillion advisory

Lisa Rubin, Director Marketing

lrubin@meketa.com

(760) 795-3450

————————————————————

  1. Mercer, Boston, MA

$379bn delegated global

$15.5trillion advisory (12-31-20)

Samantha Davidson, US

Investment Solutions Leader

samantha.davidson@mercer.com

(617) 747-9230

————————————————————

  1. Mill Creek Capital Advisors,

Conshohocken, PA

Josh Gross, CEO

$7.5bn Discretionary assets

$8.5bn total

jgross@millcreekcap.com

(610) 941-7714

————————————————————

  1. Miller Investment Management,

West Conshohocken, PA

$1.8bn Discretionary assets (12-31-20)

$4.0bn total

Timothy P. Letter, Managing Director,

business development

tletter@millerinv.com

(610) 834-9820 x136

————————————————————

  1. Morgan Creek Capital Management,

Chapel Hill, NC

$2bn Discretionary assets

Mark Yusko, CEO & CIO

myusko@morgancreekcap.com

(919) 933-4004

pclark@morgancreekcap.com

————————————————————

  1. Morgan Stanley OCIO/

Graystone Consulting, New York, NY

$44.8bn OCIO Discretionary assets

General OCIO Inquiries

mscustomsolutions@morganstanley.com

(212) 296-6651

Tom Williams, MD, Head Institutional

Portfolio Solutions, Head Custom OCIO Solutions

tom.williams@morganstanley.com

(212) 296-6960

Robert Mandel, MD, Head of Graystone

Business & Team Development

robert.j.mandel@morganstanley.com

(914) 225-5420

————————————————————

  1. Multilateral Endowment Management

Company “MEMCO,” Edmond, OK

$1.2bn Discretionary assets

Ryan S. Tidwell, CEO & CIO

rtidwell@memco-invest.com

(405) 385-3146

————————————————————

  1. NEPC, Boston, MA

$56.1bn Discretionary assets

$1.4trillion total

Steve F. Charlton, Director Consulting Services

scharlton@nepc.com

(617) 374-1300

————————————————————

  1. New Providence AM, New York, NY

$2.7bn Discretionary assets

Andrew Vogelstein, Chairman

Sarah Withers, Associate Director

sarah@newprov.com

(646) 292-1272

————————————————————

  1. Northern Trust, Chicago, IL

$102.2bn OCIO Discretionary assets

$50.2bn advisory

Lyndsay Ferencak, Director

LRF4@ntrs.com

(312) 444-3297

Darius Gill, National Practice Director

DAG9@ntrs.com

(312) 444-7153

————————————————————

  1. Pacific Portfolio Consulting, Seattle, WA

$3.47bn total

Larry Hood, Founder & CEO

larry@pacific-portfolio.com

Kevin O’Connor, Partner, Senior Retirement

Program Advisor

koconnor@pacific-portfolio.com

(206) 623-6641 phone

(253) 651-4905 cell

————————————————————

  1. Partners Capital, Boston, MA & UK

$40.6bn total

Paul Dimitruk, Co-Founder and Senior Partner

paul.dimitruk@partners-cap.com

(617) 292-2575

Leslie Ahlstrand, Principal

leslie.ahlstrand@partners-cap.com

(617) 778-7046

————————————————————

  1. Pentegra Investors, White Plains, NY

$15.7bn total Discretionary assets (12-31-20)

Matthew P. Mintzer, EVP Sales & Marketing

matthew.mintzer@pentegra.com

(914) 821-9563

————————————————————

  1. Permanens Capital, New York, NY

$4.1bn Discretionary assets

John Regan, Founding Partner

jr@permcap.com

Alex Goldfarb, Partner

alex@permcap.com

(212) 993-7447

————————————————————

  1. Permit Capital Advisors, W. Conshohocken, PA

$1.4bn Discretionary assets

Mimi Drake, Co-CEO

mdrake@permitcapital.com

Bill Curran, Portfolio Manager

wcurran@permitcapital.com

(610) 940-5331

————————————————————

  1. PFM Asset Management, Philadelphia, PA

$17.2bn Discretionary assets

$23.4bn total

John Spagnola, Managing Director

spagnolaj@pfm.com

Jim Link, Managing Director

linkj@pfm.com

(215) 557-6700

————————————————————

  1. PNC Bank, Philadelphia, PA

$63.42bn Discretionary assets

Chris McGoldrick, Managing Director OCIO

& Retirement Solutions

chris.mcgoldrick@pnc.com

(215) 585-1244

————————————————————

  1. Prime Buchholz & Associates, Portsmouth, NH

$3.2bn Discretionary assets

$59bn advisory

William F. McCarron, President

bmc@primebuchholz.com

(603) 433-1143

————————————————————

  1. Regions Asset Management, Birmingham, AL

$46.7bn Discretionary assets

  1. Alan McKnight, Jr., CIO

alan.mcknight@regions.com

(404) 979-5418

————————————————————

  1. RiskBridge Advisors, New Canaan, CT

$200mm Discretionary assets

Christopher A. Reynolds, Director Institutional Sales

creynolds@riskbridgeadvisors.com

(770) 299-3832

————————————————————

  1. Russell Investments, Seattle, WA

$269.4bn Discretionary assets

Rob Cittadini, Managing Director, Institutional Sales

rcittadini@russellinvestments.com

(206) 505-2876 (o)

(206) 427-5589 (c)

————————————————————

  1. SECOR Asset Management, New York, London

$28bn Discretionary assets

$44.6bn total

Kam Chang, Principal

kam@secor-am.com

(212) 980-7365  

————————————————————

  1. Segal Marco Advisors, Chicago, IL

$10.3bn Discretionary assets

TJ Kistner, VP, Head of Discretionary

Portfolio Management & Solutions

tkistner@segalmarco.com

(312) 612-8493

————————————————————

  1. SEI Institutional Group, Oaks, PA

$207.7bn Discretionary assets

Michael Cagnina, SVP, Managing Director

mcagnina@seic.com

(610) 676-1496

————————————————————

  1. Sellwood Consulting, Portland, OR

$724mm Discretionary assets

$7.5bn total

Ashlee Moehring, Consultant, Principal

ashleemoehring@sellwoodconsulting.com

(503) 596-2880

————————————————————

  1. Seven Bridges Advisors, New York, NY

$6.2bn total

  1. Ram Lee, Partner

ramlee@sevenbridgesadvisors.com

(212) 490-6320

————————————————————

  1. Silvercrest Asset Management, New York, NY

$21.9bn Discretionary assets

$29bn total

Chris Long, Managing Director

clong@silvercrestgroup.com

(212) 649-0697

————————————————————

  1. 89. Spider Management Company, Richmond, VA

$5.7bn Discretionary assets

Tory Sprehe, Director of Investor Relations

tsprehe@richmond.edu

(804) 289-6010

————————————————————

  1. State Street Global Advisors, Stamford, CT

$181.2bn Discretionary assets

Gary Sems, VP, Global Fiduciary Solutions

gary_sems@ssga.com

(203) 326-4255

————————————————————

  1. Strategic Investment Group, Arlington, VA

$29.5bn Discretionary assets

$30.2bn total AUM

Nikki Kraus, Managing Director Client Development

nkraus@strategicgroup.com

(703) 243-4433

————————————————————

  1. 92. TIFF Investment Management, Radnor, PA

$7.4bn Discretionary assets

Kane Brenan, CEO

Rob Zion, COO

Michael Murray, Managing Director

mmurray@tiff.org

(312) 882-0331

————————————————————

  1. 93. Truist Bank (x SunTrust), Atlanta, GA

$16.5bn Discretionary assets

Elizabeth Cabell Jennings, Managing Director

Regional Practice Leader / Truist

Foundations and Endowments Specialty Practice

Elizabeth.C.Jennings@Truist.com

(404) 813-1538 office

(804) 314-5269 Mobile

————————————————————

  1. Truvvo Partners, New York, NY

$3.6bn total

Casey D. Whalen, CEO & CIO

cwhalen@truvvo.com

Ilka Gregory, Director Client Relations

(212) 488-5485

————————————————————

  1. UBS AG, Chicago, IL

$16.1bn OCIO Discretionary assets (9-30-20)

Andrea Fisher, Head Specialist, Americas

andrea.fisher@ubs.com

(212) 882-5147

Mohammad Ahmad, Head, Business Development

mohammad.ahmad@ubs.com

41 79 629 48 29

Calvin Kim, Director Investment Solutions Specialist

Asia Pacific (ex. Japan/Australia)

calvin.kim@ubs.com

————————————————————

  1. Vanguard, Malvern, PA

$65.8bn Discretionary assets

Christopher Philips, Head Institutional Advisory Services

christopher_philips@vanguard.com

(610) 503-1089

————————————————————

  1. VELA Investment Management, New Albany, OH

$150mm Discretionary assets

Ric Dillon, CEO

rdillon@vela-im.com

(614) 653-8352

————————————————————

  1. Verger Capital Management, Winston-Salem, NC

$2.2bn Discretionary assets

Wesley Carroccio, Managing Director

wcarroccio@vergercapital.com

Patrick Decker, Managing Director

pdecker@vergercapital.com

(336) 934-4101

————————————————————

  1. Verus Advisory, Seattle, WA

$5.3bn Discretionary assets

$580.4bn advisory

Shelly J. Heier, President & Senior consultant

sheier@verusinvestments.com

(206) 622-3700

————————————————————

  1. Wealth Strategist Partners, Chicago, Il

$1bn total

Susan K. Lucas, COO

susan@wspcio.com

(312) 259-8128

————————————————————

  1. Wespath II, Glenview, IL

$5bn Discretionary assets

  1. Joseph Halwax, Managing Director Institutional Services

jhalwax@wespath.org

(847) 866-4307

————————————————————

  1. Willis Towers Watson, Chicago, IL

$167.74bn Discretionary assets

Kemp Ross, Global Head of Delegated

kemp.ross@willistowerswatson.com

(312) 525-2436

Clint Cary, Head, Delegated Investment Services, Americas

clint.cary@willistowerswatson.com

(312) 525-2406

Pieter Steyn, EMEA Head Delegated Investment Services

pieter.steyn@willistowerswatson.com

44 (0) 207 170 2714

————————————————————

  1. Wilshire Associates, Pittsburgh, PA

$20.4bn Discretionary OCIO assets

$1.3trillion advisory

Walid Shinnawi, SVP, Head Institutional

Business Development

wshinnawi@wilshire.com

(415) 341-6008

————————————————————

  1. Worth Venture Partners, New York, NY

$330mm Discretionary assets

David Wertentheil, Partner

dwertentheil@worthventure.com

(212) 558-9017

————————————————————            

104 Firms – Total AUM – $3.274 Trillion

 

Note: We assume OCIO firms manage predominantly institutional assets (although many also shepherd family assets), while RIAs manage mostly high net worth money.

However, many RIAs manage some endowment and foundation assets.  If you do, call us and we would be happy to include you.

————————————————–

The Skorina Letter

Each issue explores how the world’s most accomplished asset managers think and invest. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance.

Our insights and commentary come from our clients – board members, CEOs, chief investment officers – and the global investment community within which we work as executive search professionals.

Institutional investors operate at the crossroads of capital, talent, and ideas, shepherding over seventy trillion dollars in global assets. It’s a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat.

Prior issues can be found in “archives” on our website.

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