Medical College of Georgia Foundation, Augusta, Ga., hired TIAA-CREF to provide outsourced chief investment officer services for its $240 million endowment, confirmed Ian S. Mercier, president and CEO, in an email.
The foundation issued an RFP earlier this year. Previous OCIO Prime Buchholz rebid for the services.
According to its website, the foundation's asset allocation is 21.4% total flexible capital, 21.1% domestic equities, 15% international equities, 13.1% fixed income, 12.3% real assets, 8.6% global equities, 4.9% emerging markets equities, 3.5% private equity and 0.1% liquid capital. Further details on the flexible capital allocation were not provided.