North Pier was engaged to assist the trustees of a regional hospital review of the historical investment performance of their traditionally advised trustee directed investment program and educate the trustees on merits of transitioning to an OCIO manager.
- Source high quality OCIO managers who understand the
economics of the health care and hospital industry
- Find an OCIO manager that could gain the trust of the investment committee, easing the transition to OCIO
- Identify an OCIO with a sound plan for addressing under-performing illiquid legacy investments
- Sourced data and administered a Request for
Information from over 45 qualified investment
- Administered an RFP and performed detailed due diligence
- Reviewed performance track records and performed in-depth investment analysis on six superior OCIO candidates
- Assisted in the selection of three finalists and moderated finalist presentations and selection conference
- Negotiated and reviewed fees and contracts
- Provided oversight during asset transition
- Committee selected an OCIO manager and
was able to comfortably transition investment
- The foundation experienced enhanced services, a significant reduction in fees and access to a lower cost portfolio
- The transition to the new OCIO fund manager was seamless.