Verne O. Sedlacek, president and CEO of Commonfund, was named the recipient of the 2013 Rodney H. Adams Endowment Management Award by the National Association of College and University Business Officers. The award recognizes outstanding individual contributions to university endowment investment management.
Mr. Sedlacek joined Commonfund as an executive vice president and chief operating officer in 2002; he was named president and CEO in July 2003. His career started at the Harvard Management Co., where he eventually became executive vice president and chief financial officer.
“I am both honored and humbled ... that I would receive this award,” Mr. Sedlacek wrote in an e-mail. “Rod Adams did so much to advance endowment and university management, so being included in the same sentence as Rod is truly a privilege.”
“Verne has been at the forefront of implementing new and innovative ways colleges and universities manage their money,” said John S. Griswold, executive director of the Commonfund Institute, the education and research arm of Commonfund, in a news release. “Many of the strategies he pioneered ... are now considered standard practice by many.”
Commonfund had $24.6 billion in U.S. institutional, tax-exempt assets under management as of Dec. 31, according to Pensions & Investments data.
The award is named for Mr. Adams, former treasurer of Stanford University, past trustee of Commonfund and past chair of the NACUBO Investment Committee.