Rice University Endowment CIO to Step Down

Allison Thacker

Allison Thacker, CIO and president of the Rice Management Co., which manages the $7.24 billion endowment of Rice University, will step down from her position on September 30, the university announced on Wednesday.

Deputy CIO John Lawrence, who joined the management company in 2012 and, like Thacker, is an alumnus of the Houston-based university, will step in as interim CIO during a nationwide search for Thacker’s successor.

“Serving as the chief investment officer at my alma mater has been the honor of a lifetime,” Thacker said in a statement. “My deep loyalty to Rice and its mission has been my driving force. I am immensely proud of the endowment’s performance, which has not only strengthened our financial foundation but also supported the success of countless students.”

Thacker joined the Rice Management Co. in 2011, and during her tenure, the assets of the endowment nearly doubled to $8.1 billion from $4.2 billion.

Never miss a story — sign up for CIO newsletters to stay up-to-date on the latest institutional investment industry news. 

Before working as CIO at Rice, Thacker, a finalist in the endowments category at the 2018 CIO Industry Innovation Awards, was a portfolio manager at RS Investments. Thacker earned a B.A. in economics from Rice and earned an MBA from Harvard Business School.

The endowment returned 4% in fiscal 2023, which ended June 30. The endowment holds 27% of its assets in venture capital and private equity, 20% in other alternative investments, 23% in equities, 14% in natural resources, 9% in bonds and cash and 7% in real estate.