Makena Investment Management Taps UVA's Kochard For CIO Role

Oct 4 2017 | 10:11pm ET

Multi-asset investment manager Makena Capital Management has reportedly hired former University of Virginia Investment Management Co. CIO Lawrence Kochard as its new chief investment officer.

In September, the university announced Kochard would be leaving the $8.6 billion endowment at the end of this year. In his new role, Kochard will replace Luke Proskine, who has been promoted to director of investment strategy, according to a Bloomberg article citing unidentified sources familiar with the plans. He will start in January.

Kochard oversaw the fund for seven years, joining UVIMCO in 2011 after a stint as Georgetown University’s CIO. He was previously managing director of equity and hedge fund investments for the State of Virginia Retirement System, and started his career at Goldman Sachs. 

The University of Virginia’s endowment is the fifth-largest among public colleges in the U.S., according to Bloomberg data, and it earned an annual average gross return of 10% over the past five years through June 30. 

Based in Menlo Park, CA, Makena Capital Management was founded in 2005 by former Stanford Management Company CEO Michael McCaffery and a group of fellow executives from Stanford University’s endowment. The firm manages some $19.4 billion in perpetual capital on behalf of sovereign wealth funds, family offices and endowments. 

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