HOUSTON-TIAA-CREF has launched a new company that will provide investment and asset management services to nonprofits. Dubbed Covariance Capital Management, the company is backed by $1 billion in seed capital from TIAA-CREF.
Led by Scott W. Wise and based in Houston, Covariance will operate independently as a wholly-owned subsidiary of TIAA. It will focus on nonprofits with assets under management of $100 million or greater.
Covariance will provide investment management for traditional asset classes, as well as alternative asset classes such as private equity, real estate, commodities and hedge funds. In addition, it will offer customized investment solutions.
The new Covariance executive management team includes: Michael J. Jawor, deputy chief investment officer; Daniel E. Feder, senior investment manager – private equity and venture capital; Ansel C. Mullins, senior investment manager – public markets and hedge funds; Holly A. Hardy, senior investment manager – real assets; and Andrea V. Reed, COO.
GlobeSt.com will continue to follow this story and will provide more details as they are available.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
