Missouri Baptist Foundation taps Commonfund as outsourced CIO

Missouri Baptist Foundation, Jefferson City, Mo., hired Commonfund as outsourced CIO for its $115 million portfolio, confirmed Christopher Calmer, president of the foundation.

The foundation issued an RFP in December for an investment consultant as a due diligence measure since its incumbent, Graystone Consulting, had been with the foundation for more than 10 years. The RFP also invited firms to offer the outsourced CIO function if they could provide it, according to Mr. Calmer.

Graystone was invited to rebid and was a finalist along with PNC Financial Services Group and SEI Investments (SEIC).