Searches and Hires

Cotsen Foundation taps J.P. Morgan as OCIO

Cotsen Foundation for the Art of Teaching, Los Angeles, hired J.P. Morgan Asset Management (JPM) to provide outsourced chief investment officer services, said Kamyab Hashemi-Nejad, chief financial officer, in an email.

The $222 million foundation hired J.P. Morgan's endowment and foundations group after issuing an RFP to move to an OCIO model from a traditional investment consultant. Mr. Hashemi-Nejad would not provide the name of the incumbent consultants or finalists.

The contract begins on April 1. Mr. Hashemi-Nejad said the OCIO move was made so the foundation could "bring all the disciplines of investment, administration and custody under one organization and to establish a full-service back-office partner."

The search was conducted using InHub's eRFP tool.