Mark W. Yusko, CIO of University of North Carolina at Chapel Hill, will leave at the end of June, said James Moeser, university chancellor. Mr. Yusko also is the CEO and CIO of UNC Management Co., the independent investment company that manages the university's $1.2 billion endowment and about $100 million of assets from the 15 other UNC campuses. An internal search committee has been set up to find Mr. Yusko's replacement by July 1.
Mr. Moeser said trustees of UNC Management recently reviewed Mr. Yusko's contract, which is similar to UNC faculty contracts and permits Mr. Yusko to spend 20% of his time consulting. Trustees decided that a faculty contract no longer was appropriate because he is an employee of the management company, run by UNC's foundation. Mr. Yusko's departure is amicable, Mr. Moeser said.
Mr. Yusko could not be reached by press time. Mr. Moeser said Mr. Yusko will concentrate on his external companies, Morgan Creek Capital Management and MWY Consulting. Mr. Yusko is the portfolio manager of a hedge fund of funds for Salient Partners and for Hatteras Investment Partners.