Art by Dadu ShinMassachusetts Pension Reserves Investment Management
Board’s (MassPRIM) Deputy CIO Sarah
Samuels earned the Next Generation Award at the 2015 Industry Innovation
Awards.
More than 100 asset owners attending CIO’s Influential Investors Forum and the Emerging Leaders Forum on December 3 voted for their favorite of eight young institutional investors.
During a lightening round of questions to the finalists, Samuels discussed MassPRIM’s cost-saving and value-adding program, Project SAVE (Strategic Analysis for Value Enhancement).
The initiative brought in $122 million in annual value-add by reducing funds-of-funds allocations, negotiating manager fee savings of $23 million annually, launching co-investments, and adding a cash overlay program.
Samuels also said that the asset-owning universe does not suffer from brain drain due to the pay gulf between institutions and their managers. To a question on the private equity fee report produced at the California Public Employees’ Retirement System, she responded that private equity makes sense for MassPRIM’s portfolio due to higher returns and unique factor exposures.
Mars’ Evalinde Eelens and Pfizer’s Monica Lai came in second and third in votes, respectively.
Other finalists included Ryan Bailey (Children’s Health System of Texas), Brad Gilbert (Teacher Retirement System of Texas), Adele Gorrilla (Denison University), Ed Heatherington (University of North Carolina Management Company), and Leslie Lenzo (Advocate Health Care).
Samuels’ boss CIO Michael Trotsky also took home an Innovation Award for developing two of the leading young public fund investors and launching Project SAVE.
Related: The Innovators: MassPRIM’s Michael Trotsky, MassPRIM Appoints New Deputy CIO Amid Reshuffle, 2015 Forty Under Forty: Sarah Samuels