Robert W. Durden was named chief executive officer and chief investment officer of the University of Virginia Investment Management Co., Charlottesville. He will start in April.
Mr. Durden succeeds Lawrence Kochard, who left in September and is now chief investment officer of multiasset-class manager Makena Capital Management.
Mr. Durden is chief investment officer for Texas Children's Hospital in Houston, which has $3 billion in assets. Before taking that position in 2013, he served as managing director and head of private assets for Morgan Creek Capital Management, managing approximately $5 billion worth of private commitments.
UVIMCO manages $9.2 billion of endowment assets and other long-term funds invested on behalf of the university and its foundations.
David B. MacFarlane, UVIMCO board chairman, said in a statement that Mr. Durden inherits an experienced team of investment professionals and a strong portfolio built on long-term relationships and core investing principles that have been in place for decades. "Robert will build on UVIMCO's strong foundation and continue its long tradition of excellence, innovation and service to the university," Mr. MacFarlane said. He also praised interim CEO Kristina M. Alimard and interim CIO E. Sargent McGowan for helping during the transition. They will resume their respective roles as chief operating officer and managing director of UVIMCO.
Officials at UVIMCO could not be reached for further information.
