Florida A&M University Foundation Inc., Tallahassee, hired Disciplina Group as its new outsourced chief investment officer.
The $164 million foundation's board of directors approved its investment committee's recommendation to hire Disciplina at its teleconferenced meeting Wednesday. Current OCIO Commonfund did rebid for the services.
The foundation had issued an RFP in August after Clifton Goins IV, chairman of the investment committee, recommended at the May 5, 2021, investment committee meeting to do so because it had been five years since the services had been put up for bid, minutes of that meeting show.
The investment committee had been considering at its Jan. 31 meeting this year hiring Commonfund and Disciplina Group each to oversee half the foundation's portfolio, according to that meeting's minutes, but Mr. Goins in the teleconference Wednesday said the committee ultimately decided at its Feb. 23 meeting to hire Disciplina to oversee the entire portfolio.
