Eric W. Kolts was named a managing director for Commonfund's commodities group, confirmed Keith Luke, a Commonfund managing director.
It is a new position and was created because of an “increase in demand and need for institutional investors to have allocations to commodities,” Mr. Luke said. “Inflation has the risk of rearing its ugly head, and we believe commodities are a good hedge against that.”
Based in Wilton, Conn., Mr. Kolts reports to Tyler Stevens, also a managing director and head of commodities. Mr. Kolts is responsible for developing new commodities strategies.
Mr. Kolts was head of global marketing and sales for Merit Commodity Partners. Prior to that, he was vice president of commodity indexes at Standard & Poor's.
No information was available by press time on Mr. Kolts' replacement at Merit Commodity Partners.