The Skillman Foundation, Detroit, hired Investure as its first outsourced CIO, spokesman William Hanson said.
The $470 million foundation issued an RFP for its first outsourced CIO earlier this year following the departure in January 2013 of Alan Harris, vice president and chief investment officer.
The foundation, which does not have an investment consultant, decided to seek an outsourced CIO firm rather than find a replacement for Mr. Harris.
