Interim IU Foundation President and CEO, J T. Forbes has appointed Jim Bergstrom and Abe Weldy to serve as Co-Chief Investment Officers for the IU Foundation, effective April 1, 2021. This appointment, made in close consultation with the IUF Board Investment Committee, was prompted by the impending March 31 retirement of current Executive Vice President, Investments and Chief Investment Officer, Gary Stratten.
Reporting directly to the President of the Indiana University Foundation (IUF), the Chief Investment Officer (CIO) provides strategic and operational leadership for managing the Foundation’s endowment. Critical to the Foundation’s effectiveness, the CIO has the daily responsibility for administration and oversight of the Foundation’s investments and consults with the Investment Committee of the Board of Directors on matters relating to the investment of Foundation assets. The CIO acts as main liaison and primary contact for the Foundation’s investment managers, investments consultant, custodian, and Investment Committee.
J T. shared his rationale for appointing co-leads for the CIO role by saying, “Abe and Jim are experienced and prepared for this role. The performance of the endowment portfolio has been strong and that is a result, in large part, of the strength of our current team. There is great value in keeping that team intact. Abe and Jim have a tremendous track record and skillset that are well known to our staff, board, asset managers, and university partners. They have both been well-trained by Gary to assume these roles and have been managing a significant portion of the department’s responsibilities for some time. This approach will work very well for us and is consistent with our value of collaboration. I am very pleased they have chosen to accept this opportunity to lead, together.”
Abe and Jim will share the role and responsibilities of Chief Investment Officer. In short, Jim will lead the traditional investment categories (stocks, bonds), and Abe will lead the alternative/non-public categories. They will be equally available to and involved with the Investment Committee of the Board, external consultant Cambridge Associates, IUF Senior Management Team, and units and partners across the IU system.