Geoffrey Berg
Geoffrey Berg will join the University of Rochester as senior vice president and CIO, moving from his post as CIO of the $50 billion South Carolina Retirement System Investment Commission. He will succeed the retiring Doug Phillips, who has served as the Rochester, New York-based institution’s CIO since 2000.
Phillip’s retirement is effective September 30, and Berg will start on October 1. Berg will lead a staff of nine to manage the university’s $3.7 billion long-term pool, which includes its endowment, $1 billion in operating capital and $300 million in pension plans.
“Geoff is highly qualified and will undoubtedly continue the success of our investment program, building upon the strong foundation in place,” University of Rochester President Sarah Mangelsdorf said in a statement. “He brings a wealth of experience in investment management and a strong track record of strategic leadership in complex financial environments, and I look forward to working with him.”
As of June 30, 2024, the university endowment had a 35.9% allocation to public equity, 27.4% to private equity, 23.9% to hedge funds, 9% to fixed income and cash, and 3.8% to real assets.
For more stories like this, sign up for the CIO Alert newsletter. ?
The endowment has returned 1.1%, 8.7% and 7.4% annualized over the past three, five and 10 years, respectively.
“I am thrilled to join the University of Rochester. It is an honor to lead the Investment Office and to serve the community,” Berg saif in a statement. “I am fortunate to inherit a strong foundation established by my predecessor, Doug Phillips. I look forward to working with President Mangelsdorf, the senior leadership team, as well as the Investment Committee.”
The South Carolina RSIC announced Berg’s planned departure in July. Deputy CIO Bryan Moore will take on Berg’s duties on an interim basis.
Berg joined the RSIC in 2008 and became acting CIO in 2015, following the departure of CIO Hershel Harper. He was named CIO in 2016. Berg earned a bachelor’s degree in English from Georgetown University and an MBA in finance from the University of Iowa.
Tags: Endowment, public pension fund CIO, South Carolina Retirement System Investment Commission
#Geoffrey #Berg #Named #University #Rochester #CIO #Succeeding #Doug #Phillips