Jack Mahler, incoming CIO, Cystic Fibrosis FoundationThe Cystic Fibrosis Foundation has hired its first-ever CIO, the organization confirmed.
Jack Mahler recently exited as head of equities and alternatives for Ontario’s public employee retirement system (OMERS) to take this position. He begins August 15.
The Bethesda, Maryland-based foundation had more than $3.65 billion in investment assets as of December 31, 2014, according to regulatory filings.
The endowment grew wildly in late 2014—up from 2013’s $611 million—when the organization’s drug development affiliate sold royalty rights for $3.3 billion.
David Barrett Partners conducted the high-profile search for an investment leader to craft a portfolio for these assets from a clean slate.
Mahler spent seven years with OMERS, overseeing $11 billion and 30 employees as a senior managing director and executive vice president.
OMERS has not yet announced his replacement, or if recruiting is underway.
Prior to joining OMERS in 2009, Mahler held prominent roles on Wall Street. He led asset manager WP Stewart’s flagship mutual fund from 2005 to 2009, and spent four years as a Brown Brothers Harriman managing director.
“Jack brings a unique perspective to the mission of the Cystic Fibrosis Foundation, having pursued a career in medicine before transitioning into the field of investment management,” the nonprofit said in a statement.
Mahler is set to have the opportunity to build a team, in addition to a portfolio.
Related: Cystic Fibrosis Foundation Hunts for First CIO & OMERS Loses Equities, Alternatives Chief