Community Foundation of Herkimer and Oneida Counties Picks OCIO

The Community Foundation of Herkimer and Oneida Counties, an impact investor based in Utica, New York, has selected its longtime investment consultant, Crewcial Partners LLC, as its outsourced CIO provider.  

New York City-based Crewcial will take on discretionary authority over the foundation’s $220 million investment portfolio. Crewcial will take over key investment decisions, such as manager selection and portfolio management. The move to an OCIO will allow the community foundation to focus on its core operations and philanthropic initiatives.  

The community foundation makes impact investments in neighborhood revitalization, workforce development, reduction of lead hazards in housing, and other priorities, as well as providing grants to area nonprofits.  

“We’re honored to continue our decades-long partnership with the Community Foundation in our new capacity as OCIO,” said Mike Miller, Crewcial’s CIO, in a statement. “Our deep familiarity with their mission, values, and long-term goals allows us to act with both speed and conviction in navigating today’s ever-evolving investment landscape to help ensure they can sustain their impact, grow with intention, and operate effectively for generations to come.” 

The community foundation manages $187 million in a long-term investment pool and manages several tens of millions across five other investment pools. The long-term investment pool has a strategic asset allocation of 69% to 75% to equities, 19% to 27% to fixed income, and 0% to 10% to alternatives. 

The foundation’s long-term investment pool returned an annualized 11.1%, 8.2% and 6.2% over the past one-, three- and 10-year periods, respectively, as of May 31.  

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Tags: endowments and foundations, OCIO