Southern Methodist Hires CIO to Oversee $1.5 Billion Endowmentby
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.