The head of private equity for the University of California’s
investment office is leaving to take the helm of a $2 billion foundation.
Tim Recker, managing director for private equity and real
assets since 2007, has been appointed CIO at the James Irvine Foundation. He
will start his new role on November 14, according to a statement from the San
Francisco, California-based charity.
“I am honored and
excited to join the Irvine Foundation at such a pivotal point in its history,”
said Recker. “I am committed to ensuring that the endowment remains strong as
the foundation invests in the critical work of grantees striving to expand
opportunity for the people of California.”
Recker oversees $9 billion of the University of California’s
$95.7 billion portfolio. He initiated the university’s real assets program,
which now includes commodities, timberland, and infrastructure. He is also
responsible for cross-asset class investments and co-investments.
Before joining the university in 2007, Recker was director
of alternative investments at the State of Michigan Retirement Systems,
overseeing a $13 billion portfolio.
Recker will replace current CIO John Jenks, who will retire
in January. Jenks has led the foundation for more than 14 years and is a former
CIO in the Alaska Division of Retirement and Benefits, managing more than $20
Isaac Stein, a board member at the foundation and leader of
the search for the new CIO, said Recker “shares a unique passion for, and
commitment to, Irvine’s mission.”
“His management experience in finance and operations
positions him well to make important contributions to the foundation,” Stein
The University of California made 10 new hires—including two
private equity and real assets analysts—in 2014 following the arrival of
Jagdeep Bachher as CIO.
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