MIT Loses Private Equity Investment Co-Head

Philip Rotner has stepped down as co-head of private equity investing with MIT Investment Management Co., in order to become the first chief investment officer of Boston Children’s Hospital.

Rotner originally joined MIT in 1999, and shared responsibility for private equity investment with Daniel Steele. I’m not sure if there was an official VC/buyout split, but Rotner seemed more focused on the former with Steele handling the latter.

MIT also has two other private equity investment professionals, plus a dedicated administrative assistant. No word on if Steele will retain sole responsibility for the portfolio, or if MIT plans to hire. Steele did not return requests for comment.

Rotner will begin his job at Boston Children’s on May 1, according to a hospital spokeswoman.