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Commonfund president and CEO to step down

Commonfund said Wednesday that Verne Sedlacek will be leaving his position as president and CEO of the firm. However, Sedlacek has agreed to stay on until a replacement is found. Commonfund is an investment firm for institutional investors.

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Qiming Venture Partners closes $500 mln for fourth fund

China-based venture firm Qiming Venture Partners said Thursday that it has raised $500 million for its fourth fund. The pool’s LPs include Princeton University, Robert Wood Johnson Foundation, NYU, Pantheon, Commonfund, Emerald Hill, Mayo Clinic, MIT and University of Pittsburgh Medical Center.

Commonfund adds to West Coast office

Commonfund has made some appointments to its West Coast office. Kent T. Scott, managing director, Commonfund Capital, will relocate from the company’s headquarters in Wilton, CT to Commonfund’s San Francisco office. Scott will be joined by new hires, Jeffrey A. Stabler, managing director of consultant relations, and client service directors, Jennifer J. Seidler and Mr. Issa T. Brandt.

Commonfund Announces Promotions and New Hires

Commonfund, an investment manager for institutional investors, has announced three promotions. The firm has also made two appointments to Commonfund Capital, its wholly owned subsidiary investing in global private equity, venture capital and natural resources.

Commonfund Appoints Chairman

Commonfund has appointed Bradford K. Gallagher as chairman, board of trustees. Gallagher succeeds Laurance R. Hoagland, who has retired from its board after serving a 12-year term. Commonfund has also announced the retirement of Charles J. Pippin from its board, again after serving a term of 12 years.

peHUB First Read

Take a break before you start the morning and click through to the latest private equity highlights in First Read including Blackstone’s interest in London’s financial district, Chinese venture slumping to its lowest levels since 2006 and Kauffman Foundation pondering on what to do next after proclaiming the VC industry is broken.

PE, VC Post Big Gains for Endowments in Fiscal 2011

Endowments saw very nice double-digit returns from venture capital and private equity investments in fiscal 2011. But those gains still lagged returns from public equities. Those were some findings from a study released Tuesday by the National Association of College and University Business Officers (NACUBO) and Commonfund, based on data from 823 U.S. colleges and […]

Universities Regain Mojo; PE Allocations Rise

Two new studies reveal that university endowments, battered by the recent economic crisis, have begun to grow again, adding fresh resources to the pool of funds they can commit to private equity and other investments.

Endowments grew on average by 11.9 percent in fiscal year 2010, which ended June 30th, according to a study released by the National Association of College and University Business Officers (NACUBO) and Commonfund, a big investor for non-profit institutions. That gain is a stark reversal from FY2009, when the average endowment lost 18.7 percent.

Adding to the improving picture, universities had a slightly easier time raising new funds in 2010. They received about $7 billion in gifts destined specifically for their endowments, representing about a quarter of the $28 billion in overall donations that universities took in last year, according to Ann Kaplan, author of a separate study from the Council for Aid to Education, or CAE. Giving was up 0.5 percent during 2010, a stark change from the previous year when donations slipped by 11.9 percent.

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