The Jessie Smith Noyes Foundation, New York, hired Threshold Group as the investment consultant for its $55 million endowment, the foundation announced Wednesday.
The selection was announced following the foundation’s call in October for letters of interest for which 35 responses were received, Steven Godeke, chairman of the board of the foundation, said in a news release.
Threshold Group replaces Mercer, which was invited to bid, said Sonal Mahida, a spokeswoman.
“We look forward to partnering with Threshold Group to increase the social justice impact of Noyes' endowment with disciplined, objective portfolio management,” Lenora Suki, chairwoman of the finance committee, said in the release.
The foundation’s current priorities are sustainable agriculture and food systems, reproductive rights, environmental justice and “an environmentally sustainable New York City,” according to the foundation’s website.