Stony Brook Foundation Hires CIO

Endowment veteran David Marcus succeeds the foundation’s inaugural investment chief Erin Abouzaid.

David Marcus, Stony BrookDavid MarcusThe Stony Brook Foundation has hired David Marcus as CIO to run its $447 million investment portfolio, the organization confirmed this week.

Marcus succeeds Erin Abouzaid, the New York-based university foundation’s inaugural CIO, who left the role earlier this year after four years to join hedge fund Hitchin Hill Capital.

Marcus joins from Bermuda-based asset management firm SHL Capital, where he was a managing director for two years. Prior to this, he spent 16 years running endowment portfolios, including the $1 billion Juilliard School fund in New York and a $3 billion portfolio for Dartmouth College in New Hampshire.

“We couldn’t be more pleased that David, with his proven experience and track record, has joined the Stony Brook Foundation,” said Ashvin Chhabra, chair of the foundation’s investment committee chair and investment chief of Euclidean Capital, Renaissance Technologies Founder James Simons’ family office. “I have the utmost confidence that David will continue to maximize the return on our donors’ investment to advance the noble mission of Stony Brook University.”

Marcus said he hoped to build on the “excellent work” of his predecessor in advancing the university’s aim to aid students from financially disadvantaged backgrounds.

He has a degree in finance from the University of Pennsylvania and an MBA from the University of Chicago.

Related: Stony Brook Foundation CIO Exits & 2016 Forty Under Forty: Erin Abouzaid