Tilly Franklin was named CIO of the £3.2 billion ($3.8 billion) endowment fund of University of Cambridge, the university said in a statement on its website.
Ms. Franklin replaces Nick Cavalla, who was appointed CEO of Talisman Global Asset Management in September.
"This is a key appointment. (Ms. Franklin) is the ideal person to lead the endowment fund into this new era," said Stephen Toope, vice chancellor and a professor, in a news release. "She brings a wealth of financial experience and a passionate commitment to responsible fund management. We are lucky to have her."
Ms. Franklin worked as director of investments and head of private equity at London-based investment advisory firm Alta Advisers. A spokesman there could not be reached to provide details about a replacement.
The fund has distributed on average about £75 million annually over the last 10 years to support academic and research activities.