Christopher J. Brightman, CEO of the University of Virginia Investment Management Co., has resigned.
In a telephone interview, Mr. Brightman confirmed he had resigned for “personal reasons” unrelated to UVIMCO’s operations. Mr. Brightman said once those personal issues are addressed, he plans to return to the investment management industry.
According to UVIMCO’s website, UVIMCO oversees $4.37 billion in assets as of Jan. 31, with the University of Virginia Endowment accounting for $2.74 billion of that total, followed by $947 million in assets of affiliated organizations and $682 million in university operating funds. Assets rose 18.3% for the year through Jan. 31, trailing the 31.5% gain for UVIMCO’s policy benchmark. But for the past five years, UVIMCO’s 6.8% annualized gain outpaced its policy benchmark’s 4% advance.
University of Virginia spokeswoman Carol Wood said a search will begin immediately to fill the CEO position.