By 17 September, 2009

University of California, Berkeley Foundation has floated an investment management arm to manage $738 million of the varsity’s $2.3-billion endowment. Setting up of UC Berkeley Management Company is a move to a professional management structure, said the company in a statement. 

The management is independent of the University of California, Berkeley, and was set up with the backing of a $3 million contribution from the California-based Hewlett Foundation. 

John-Austin Saviano, former senior consultant at Cambridge Associates, is appointed as President and CIO of the management arm. The fund will be looked after by a five-member team led by Janet McKinley, former Director of Capital Research and Management. The management also plans to hire three additional professionals and support staff as the business grows.

Leave Your Comment