The Cleveland Clinic Foundation has appointed Stefan Strein as chief investment officer, after going several years without a CIO.
Strein is leaving his position as CIO at the $2.7 billion Annie E. Casey Foundation to lead Cleveland Clinic’s $12.6 billion fund. He announced the move in a LinkedIn post Monday, writing that he would start at Cleveland Clinic in two weeks.
A Cleveland Clinic spokesperson confirmed the appointment Thursday evening.
The $12.6 billion fund includes foundation assets and pension capital, according to a June 2015 financial report. It is unclear whether Strein will lead the entire portfolio, or segments of it.
Currently, Cleveland Clinic’s highest ranking investment officer is George Mateyo, who has served as senior director of investments since 2010.
Cleveland Clinic has outsourced management of its assets to Strategic Investment Group since April 2009.
Strein has been at the Casey Foundation since 2005, when he was hired as an alternative investments manager. Prior to joining the foundation, he worked as a venture capitalist at Tritech Partners and NextGen Capital, making investments in technology and health care companies.
Strein serves on the investment committees of the Planned Parenthood Federation of America, Baltimore Community Foundation, and Maryland State Retirement and Pension System.
He holds a master’s degree in finance and international business from Johns Hopkins University.