Peter Pereira Gray is retiring as managing partner and CEO of Wellcome Trust's investment team, the charitable trust said in a release Wednesday.
Mr. Gray joined Wellcome in 2001 as head of property investment. He was made managing partner in 2016, and chief executive of investments in 2017, working with CIO Nick Moakes, who continues in that role.
During Mr. Gray's tenure, assets grew to £38.2 billion ($51.4 billion) as of Sept. 30, from £13.5 billion in January 2001, the release said.
Over the 20-year period, annualized investment returns averaged more than 10% per year. They were 34.5% in the most recent year, 15.2% over 10 years and 16.4% over five years.
Mr. Gray will continue as emeritus partner and serve on Wellcome's valuation committee, the release said.
A call to Wellcome for information on his replacement was not immediately returned.
