The board of trustees has appointed Goldman Sachs as Adelphi University's outsourced chief investment officer.
Adelphi University is pleased to announce that, this month, the University’s board of trustees appointed Goldman Sachs as its outsourced chief investment officer. In this role, the firm will work with Adelphi’s Finance and Investment Committee to manage the University’s endowment fund, effective July 1.
“Adelphi’s administration and the board recognized that the volatility in today’s financial markets required a more sophisticated and active approach to managing our endowment fund,” said James Perrino, executive vice president of finance and administration at Adelphi. “We are excited to be working with Goldman Sachs and look forward to benefiting from their expertise and breadth of service offerings.”
Perrino added, “We believe that adopting this new investment model will allow the University to react more timely to market conditions and provide us with a greater opportunity to maximize our investment returns given our tolerance for risk.”
“We are pleased to be trusted with this crucial mandate and look forward to supporting the University and its endowment in their mission,” said John Mallory, global head of Goldman Sachs Institutional Client Solutions. “As with all of our clients, we will seek to ensure that Adelphi and its community benefit from the reach and resources of our global franchise.”