London CIV CIO Aoifinn Devitt to Step Down

The investment chief announced her resignation less than a year into the role, following significant turnover at the fund.
Aoifinn Devitt, CIO of the London CIV, the asset pooling company for Local London Government Pension Scheme assets, will step down from her position at the end of the year, according to a letter distributed to shareholders on Thursday and confirmed by a CIV spokesperson. Devitt was appointed to the role in early January.

In the interim, between Devitt leaving the role and a successor being appointed, Rob Treich, head of public markets at CIV, will assist in the oversight of the investment team.

“While Aoifinn may be moving on, as one of the leading thought leaders within the LGPS, I know she will continue to help London CIV on its journey as the investment partner of choice for our partner funds,” said Dean Bowden, CEO of London CIV, in a statement. “With Rob’s support, we will continue to maintain momentum in the planned program of launches and development of our service offering, during the transition to a new CIO.”

London CIV has suffered significant turnover in its leadership. Devitt’s successor will be the fund’s fifth CIO since 2017. In 2019, former UBS CIO Mark Thompson was appointed as CIO of the CIV but resigned from the position within weeks. Devitt succeeds Jason Fletcher, who held the role from 2020 through 2023.

Prior to her appointment at CIV, Devitt was CIO of U.S.-based wealth adviser Moneta Group and was previously CIO of the Policemen’s Annuity and Benefit Fund of Chicago between 2016 and 2019.

As of March 31, 2023, the London CIV fund managed 14.3 billion pounds ($18.57 billion) in assets across 22 funds.  

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Johns Hopkins University Seeking New CIO

The successful candidate will oversee $9 billion of endowment and pension assets.



Johns Hopkins University is hiring for the role of vice president and CIO,
according to a recent job listing 

The candidate will succeed Jason Perlioni, who was vice president of investments and CIO of the university’s investment office from 2017 until June, according to his LinkedIn profile. Baltimore-based Johns Hopkins has partnered with executive search firm Braddock Matthews Barrett to assist in the search. The new hire will be the university’s third CIO; Perlioni succeeded Kathryn Crecelius, who served from 2005 through 2017 before retiring. 

“The CIO will provide leadership, management, and investment expertise to the University’s investment activities,” the job posting states. “The primary objective of the position is to optimize the performance of the University’s investment portfolios.”  

Qualifications for the role include a track record of proven investment leadership experience, a history of outperforming peers and benchmarks, experience in sourcing and allocating to external managers across a number of asset classes and experience developing and implementing asset allocation, portfolio construction and risk management strategies.  

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The investment office of the university oversees the investments of the university endowments and the Johns Hopkins Hospital System, totaling $8 billion in assets, as well as an additional $1 billion in pension assets. The endowment ranked 16th in the U.S. in assets, according to the 2023 NACUBO-Commonfund Study of Endowments. 

According to Johns Hopkins financial statements, as of June 30, 2023, the university allocated 39% of its $8.9 billion portfolio to absolute return assets, 26.14% to private equity and venture capital, 14.74% to U.S. equities, 9.78% to international equities, 6.75% to natural resources and 6.55% to real estate. 

In fiscal 2023, the endowment returned approximately 27.8%, among the year’s highest endowment performances, according to the 2023 NACUBO-Commonfund study of endowments.  

Related Stories: 

Johns Hopkins University Names New CIO 

3 Investing Considerations for Endowments and Foundations for 2024 

US College Endowments Gained 7.7% in Fiscal 2023, but Suffered From Weak Alternatives Returns 

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