TIAA-CREF combined its alternative investments group with its portfolio management and private placement groups following the recent departure of Sheryl Schwartz, managing director and head of TIAA-CREF’s alternative investments group, said spokeswoman Abby Cohen.
The alternatives group managed $5.5 billion in private equity and co-investments and has $3 billion in unfunded capital commitments.
Ms. Schwartz led a team responsible for timber and private equity funds and co-investments. That team is being integrated with the portfolio management group, headed by Heather Davis, and private placements, led by Marina Mavrakis. Both Ms. Davis and Ms. Mavrakis are managing directors.
Efforts to contact Ms. Schwartz were unsuccessful.