University Park, Pa. -- Penn State's Board of Trustees has renewed the appointments of six non-University representatives to the Penn State Investment Council.
The board established the council in September 2000 to provide direct oversight of the University's endowment and long-term investment program in response to Penn State's growing asset base and complex portfolio strategies. The council regularly reviews asset allocation, new asset classes, investment strategies and manager performance, and provides semi-annual updates and reports regarding investment performance to the Board of Trustees.
The non-University council members who had their appointments renewed for another one-year term by the board today (Sept. 19) are: Timothy J. Crowe, managing director of Anchor Point Capital LLC in Coral Gables, Fla.; Carmen Gilloti, managing director of Private Equities of DuPont Capital Management in Wilmington, Del.; Edward R. Hintz Jr., president of HHR Asset Management LLC in Chatham, NJ; Arthur D. Miltenberger, vice president and chief financial officer (retired) of R.K.Mellon & Sons in Ligonier; J. David Rogers, chief executive officer of J.D. Capital Management in Greenwich, Conn.; and Linda B. Strumpf, vice president and chief investment officer of The Ford Foundation in New York, NY.
Consisting of as many as nine board-appointed members and chaired by Gary Schultz, senior vice president for finance and business/treasurer of the University, the Penn State Investment Council includes David Branigan, executive director of the office of investment management, and five to seven non-University representatives.