FEG Bolsters OCIO with New Asset Owner Hire

Ex-CIO of Southern Methodist University has joined the Cincinnati, Ohio-based consultant and OCIO.

The Fund Evaluation Group (FEG) has poached an endowment CIO veteran to build out its outsourced-CIO (OCIO) arm.

Michael Condon, most recently CIO at Southern Methodist University, has been appointed OCIO senior vice president at FEG, a newly created position.

“The depth of [Condon’s] experience from an investment and industry standpoint will be a valuable asset to our clients,” Rebecca Wood, FEG’s managing principal and head of consulting, said in a statement. “Mike personally knows the challenges of balancing the day-to-day demands of an investment office with the long-term mandate of intergenerational equity.”

Condon spent seven years at Southern Methodist University leading a 15-person team responsible for the $1.5 billion endowment. According to his LinkedIn, he left the Dallas, Texas-based school in March.

Previously, Condon was CIO for the $1.1 billion University of Arkansas Foundation for one year. He also spent 10 years at the Georgia Tech Foundation, growing the endowment from $440 million to $1.5 billion during his tenure.

Condon holds an MBA from Louisiana Tech University and a bachelor’s degree from the University of South Alabama.

According to CIO’s 2016 OCIO buyer’s guide, FEG had $4 billion in full discretionary assets and 80 US clients at the end of January.

Related: Why Public Pension Giants and Hedge Funds Don’t Mix & 2015 Knowledge Brokers: Greg Dowling

By Sage Um