University of Miami, Coral Gables, Fla., hired U.S. Trust as investment consultant, said Geoffrey Kirles, vice president of investments and treasurer, in an email.
U.S. Trust will advise the university on its $920 million long-term growth portfolio and was hired following a “competitive and comprehensive search process,” said a news release from U.S. Trust.
The university’s long-term growth portfolio consists of endowment assets and returned 19% in the year ended Feb. 28, according to the news release.
Mr. Kirles said in the news release that while the university is pleased with the portfolio’s performance, the university recognized “the need for global research capabilities in order to rise to the challenge of sustaining this performance across potential market fluctuations.”
Further information was not available by press time.