Richard Chau appointed CIO of Tulane
Tulane University has promoted Richard Chau to Director of Investments to oversee the school’s investment management office, which manages the university’s $ 1.4 billion endowment and investment assets at long term related.
Chau succeeds former CIO Jeremy Crigler, who retired last September. Prior to being appointed interim CIO last fall, Chau, who joined Tulane’s endowment office in 2013, was responsible for building and managing private equity and real asset portfolios. His work included adding investment managers specializing in venture capital, growth stocks, buyouts, hardships, energy and real estate, as well as expanding the international exposure of Endowment, especially in Asia. He also contributed to the endowment investment strategy and policy, asset allocation, portfolio construction, reporting, risk management, cash flow planning and management. liquidity management.
“I am pleased that Richard is assuming the permanent position of CIO, and I look forward to working with him and his team to continue the remarkable momentum of our great university,” Patrick Norton, senior vice president and COO of Tulane ( COO), said in a statement. “Our 10-year staffing performance has consistently been in the top quartile of all universities across the country, and Richard has played a big part in that success.”
Prior to joining Tulane, Chau was Vice President at Bessemer Trust, where he helped manage multi-billion dollar private equity and venture capital portfolios. And before Bessemer Trust, Chau worked for the $ 7 billion Andrew W. Mellon Foundation, where he focused on private equity and asset allocation. He was also an investment banking partner in the mergers and acquisitions (M&A) group of investment bank Houlihan Lokey.
Chau is taking over a $ 1.1 billion common policy portfolio that has outperformed its benchmark in the past one, three, five and 10 years, according to the endowment. most recent annual report for the year ended June 30. The portfolio is strongly oriented towards alternative investments, with 27.5% of its assets allocated to negotiable alternatives, an additional 20% in private equity and 10% in private real assets.
“I am honored and delighted to lead a formidable team at the investment office to help advance the mission and priorities of the university,” said Chau. “I am grateful to our retired CIO, Jeremy Crigler, for the years of mentoring and invaluable lessons that I will use in my new role as CIO.”
Chau received an MBA from Columbia University and a BA in Economics and Chinese from Williams College.
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Tags: Bessemer Trust, Chief Investment Officer, endowment, Jeremy Crigler, Mellon Foundation, Richard Chau, Tulane University