Outsourced-CIO (OCIO) firm Partners Capital has hired away Babson Capital’s head of private equity Suzanne Streeter to lead the asset class in North America.
Partners today named Streeter as a senior investment principal for the multi-national outsourcing operation. She joins a 115-person investment team managing upwards of $17 billion, according to the firm, much of that from endowment, foundation, and high-net-worth clients.
Prior to joining Babson, Streeter spent four-and-a-half years at the Yale University endowment (2007 to 2011), where she focused on private equity as an associate director.
Partners’ announcement highlighted this element of her résumé, which also includes years-long stints at Morgan Stanley, Berkshire Capital Securities, and Northhaven Management.
“Private equity is a core allocation for Partners Capital’s client portfolios and we therefore are pleased that Suzanne has joined our team,” said the OCIO firm’s Founder and CIO Stan Miranda.
“Her experience at the Yale Investments Office, which was a pioneer among endowments in allocating significantly to private equity, makes her an especially good fit for Partners Capital,” he concluded.
Streeter has joined a stream of former asset owners entering the realm of OCIO—a sector that has been on a hiring spree of late.
Alaska’s sovereign fund lost its CIO Jay Willoughby in September to the top job at The Investment Fund for Foundations (TIFF), and as of last week, its head of “special opportunities” as well. Perella Weinberg Partners’ OCIO arm hired a Harvard endowment vice president in November.
And two more outsourcers found new investment leaders from the institutional world in recent months: Commonfund nabbed a former California Public Employees’ Retirement System CIO, and Meketa Investment Group hired its OCIO chief from DuPont Capital.
Related: OCIO Buyer’s Guide: Partners Capital & Harvard VP Leaves For Perella Weinberg’s OCIO