Frank Tessier Named CIO of Santa Clara University’s $1.55B Endowment

Santa Clara University this week announced the promotion of Frank Tessier to CIO of the university’s $1.55 billion endowment.

“Santa Clara University is fortunate to have Frank Tessier as its next chief investment officer,” said Wilson Garone, the university’s vice president for finance and administration, in a statement. “Frank lives the University’s values of integrity, excellence, and collaboration every day, and his deep familiarity with each of our strategic partners positions him to make an immediate impact.

Tessier had been an investment director at the endowment since 2021. Previously, he was a senior portfolio manager at Radar Partners, and he began his career at Makena Capital Management, where he specialized in asset allocation and portfolio construction.

Tessier will succeed John Kerrigan, who is retiring from his role as CIO after more than 22 years.

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“[Kerrigan] has overseen the growth of the endowment from $425 million in 2002 to its current value of $1.55 billion,” Garone said in a statement. “Over the past decade, the endowment has performed in the top decile of U.S. endowments of $1 billion [and greater]. The University owes him a great debt of gratitude for his service.”

Kerrigan will continue supporting the investment office to ensure a smooth transition when he retires at the end of the academic year.

“It has been a privilege to play a role in advancing Santa Clara University’s mission,” Kerrigan said in a statement. “As CIO, Frank Tessier will do a superb job focusing on the endowment’s performance and maintaining robust relationships with key stakeholders.”

Tessier earned a bachelor of science degree in mechanical engineering and finance from Washington and Lee University and an MBA from the Stanford Graduate School of Business.

“I am deeply honored to be selected as Santa Clara University’s next CIO,” Tessier said in a statement. “As someone who is passionate about Jesuit education and its mission to shape ethical leaders for a better world, I am inspired by the values and vision that guide this incredible institution. I look forward to building upon the strong foundation that has been laid and working collaboratively to steward the University’s investments in a way that supports Santa Clara and ensures a bright future for generations to come.”