By Muskan Arora
Allison Thacker, CIO and president of
$7.2bn Rice University will step down on September 30, after a tenure of 13
years.
Deputy CIO John Lawrence will step up as
interim CIO, as the search for Thacker’s successor begins.
Lawrence joined the Rice Management Company
in 2012 and has worked closely with Thacker to lead the investment management
function of the organization.
“Serving as the chief investment officer at
my alma mater has been the honor of a lifetime,” Thacker said in a statement.
“My deep loyalty to Rice and its mission
has been my driving force. I am immensely proud of the endowment’s performance,
which has not only strengthened our financial foundation but also supported the
success of countless students,” he added.
During Thacker’s tenure, the endowment’s
market value grew from $4.2 billion to $8.1 billion, while contributing $3.8
billion to the university budget.
Prior to joining the endowment, Thacker worked
at RS Investments for eleven years as portfolio manager and managing director.
She began her career at Merrill Lynch &
Co and Putnam Investments.
During Thacker’s tenure, the endowment
returned 4% in fiscal 2023, which ended June 30.
The endowment holds 27% of its assets in
venture capital and private equity, 20% in other alternative investments, 23%
in equities, 14% in natural resources, 9% in bonds and cash and 7% in real
estate.
