LAFAYETTE, La., May 22, 2018 (GLOBE NEWSWIRE) -- The University of Louisiana Lafayette Foundation announced today that it has outsourced the management of its $170 million endowment to CA Capital Management, the dedicated outsourced chief investment officer (OCIO) business for endowments and foundations at global investment firm Cambridge Associates.
UL Lafayette Foundation, which is the central non-profit arm of the University of Louisiana at Lafayette, promotes the educational, social, moral, and material welfare of the University by assisting in the acquisition of donations, and manages and invests all private assets gifted to the University. CA Capital is responsible for portfolio strategy, implementation, day-to-day management, and operations for endowments and foundations.
“We are excited about the work that’s already underway with CA Capital,” said Wayne Elmore, Chairman of the Board of Trustees at the UL Lafayette Foundation. “The relationship we have with our beneficiaries and the UL Lafayette community is of utmost importance to our investment committee and Foundation leadership.”
The collaboration of key parties – UL Lafayette Foundation Board of Trustees and Staff, the Foundation’s Investment Committee, the University’s administration, and CA Capital – will drive the long-term growth goals supported by intergenerational equity of the endowment. The decision to hire CA Capital as OCIO is directly correlated to UL Lafayette Foundation’s commitment to helping secure the University for generations to come and maintaining the close partnership with the University that’s been held since the Foundation’s founding over 60 years ago.
“We are thrilled to work with the UL Lafayette Foundation and provide sound portfolio management so that its leadership team can focus on areas where they have the highest impact as fiduciaries like spending and donor relations,” said Max Senter, the CA Capital Management chief investment officer (CIO) who will lead the team serving the UL Lafayette Foundation. Senter’s team brings an average 19 years’ experience serving as the investment office for colleges and universities.
He continued, “The University of Louisiana at Lafayette community will fully understand the factors behind investment decisions, and how we are putting the Foundation donors’ dollars to work strategically and selectively in this increasingly complex market environment.”
Tommy Kreamer, Chair of the University of Louisiana Lafayette Investment Committee, noted, “Great performance is the difference between meeting or missing a spending target in a low-return environment, and ultimately it could make the difference between donors entrusting their donations with the UL Lafayette Foundation or investing it themselves.”
About UL Lafayette Foundation
The UL Lafayette Foundation promotes the educational, social, moral, and material welfare of the University of Louisiana at Lafayette by assisting in the acquisition of donations. It also invests and manages all private assets gifted to the University. As the Foundation works toward its goals, one important common denominator is ever present: our donors. They are the element that transcends current challenges. Our donors are the people who value higher education enough to actively support it. The UL Lafayette Foundation is a 501(c)(3) tax-exempt organization. For more information, please visit https://www.ullafayettefoundation.org/home.
About CA Capital Management (Cambridge Associates)
CA Capital Management is the business unit of global investment firm Cambridge Associates that serves endowments and foundations as an outsourced chief investment officer (OCIO). It is supported by Cambridge Associates’ global platform and 45 years of institutional investing insights. CA Capital Management is responsible for portfolio strategy, implementation, day-to-day management, and operations. For more information, please visit www.cambridgeassociates.com.
Contact:
UL Lafayette Foundation:
Colette Billeaud, colettebilleaud@louisiana.edu 337-482-0700
CA Capital Management:
Samantha Norquist, snorquist@cambridgeassociates.com 617-457-1347