WILTON, CT, February 1, 2011 – Commonfund, a prominent manager of investment funds for nonprofit and other institutional investors, today announced the appointment of Fredric (“Rick”) Nelson, as Chief Investment Officer of Commonfund Group and CEO of Commonfund Asset Management Company effective February 1, 2011. In this role Mr. Nelson will report directly to Verne O. Sedlacek, President and CEO of Commonfund Group. Mr. Nelson will also chair the Commonfund Investment Policy and Asset Allocation Committee, and will have direct oversight of Commonfund’s equity and fixed income programs as well as its $11 billion outsourced solutions business.
“This is a very exciting time for Commonfund as we are able to hire somebody with Rick’s skill and proven track record,” said Verne O. Sedlacek, President and CEO Commonfund Group. “His expertise and leadership when collaborating with our already strong investment team will be invaluable as we continue forwarding the mission of Commonfund and our clients.”
Commonfund also announced today that A. Nicholas De Monico, who served as Deputy CIO during the search for Mr. Nelson, has been named CEO of Commonfund Marketable Alternatives (a division of Commonfund Asset Management Company), reporting to Mr. Sedlacek. In this role Nick will have investment and business leadership for Commonfund’s hedge fund portfolios, including funds and separate accounts in directional and relative value strategies. “I am very thankful to Nick for the critical role that he has played over the last few months in our transition period to a new CIO,” Sedlacek continued.
Additionally, Commonfund Chief Economist Michael Strauss, will also assume the title of Chief Investment Strategist of Commonfund Asset Management Company, reporting directly to Mr. Nelson. Susan Carter will remain President and CEO of Commonfund Capital, reporting to Mr. Sedlacek.
Mr. Nelson (54) has over 30 years of successful institutional investment experience. Before joining Commonfund, Mr. Nelson was Vice Chairman and Chief Investment Officer of ING Investment Management Americas, New York, NY from 2003-2009, where he led more than 300 professionals managing over $165 billion in assets. He was responsible for client and ING proprietary capital in traditional, private equity and hedge fund asset classes. Mr. Nelson was a member of ING Investment Management Committee, Insurance Americas Asset Liability Committee, ING Group Management Council, and Director, ING Mutual Funds. While at ING he created the Multi-Asset Strategy and Solutions Group which combined asset allocation, liability modeling, risk management and financial engineering skills to deliver consultative solutions and multi-asset portfolios for clients.
Before that, Mr. Nelson was Managing Director, Head of U.S. Equity for JP Morgan Investment Management, New York, NY from 2000-2003. He led 120 professionals managing over $90 billion in assets. Rick was responsible for institutional and retail client assets in quantitative and fundamental active strategies across all-cap ranges and styles. He was also a member of JPMIM Management Committee.
Prior to his role at JP Morgan Investment Management, Mr. Nelson was with Bankers Trust Company for 13 years, most recently as Managing Director and Head of the Quantitative Investments Group. In this capacity he led a team of 13 professionals and initiated the group’s entry into cutting edge active quantitative strategies.
Mr. Nelson earned an M.B.A. from the University of Chicago and a B.S. in Business from the University of Pennsylvania, Wharton School of Business.
Founded in 1971, Commonfund is devoted to enhancing the financial resources of long-term investors including nonprofit institutions and pension funds through superior fund management, investment advice and treasury operations. Directly or through its subsidiaries—Commonfund Capital and Commonfund Asset Management Company— Commonfund manages over $26 billion for over 1,500 clients. Commonfund, together with its subsidiary companion organizations, offers more than 30 different investment programs. All securities are distributed through Commonfund Securities, Inc. For additional information about Commonfund, please visit www.commonfund.org.