Southern Methodist Hires CIO to Oversee $1.5 Billion Endowment

  • Rakesh Dahiya oversaw hedge funds at University of Florida
  • Investment chief replaces Michael Condon, who left in March

Southern Methodist University hired Rakesh Dahiya from the University of Florida to oversee an investment portfolio of $1.5 billion.

Dahiya, who oversaw hedge funds as well as equity and fixed-income strategies at the University of Florida Investment Management Corp. since 2011, will take over as Southern Methodist’s chief investment officer and treasurer on Sept. 12, the Dallas-based school said Wednesday in a statement. He previously worked for Washington University in St. Louis.

“Rakesh’s leadership and understanding of changing markets will ensure that SMU invests wisely with a close eye on the goals established by our board of trustees,” R. Gerald Turner, Southern Methodist’s president, said in the statement.

The university, with a portfolio that includes mineral interests and planned giving assets, had a 10-year annual average return of 8.7 percent through June 2015.

Dahiya replaces Michael Condon, who resigned as Southern Methodist’s CIO in March. Condon joined Fund Evaluation Group, a money manager for endowments and foundations in Cincinnati, the firm said in a statement Aug. 15.