Children's Health, a large pediatric health system based in Dallas, is losing its investment director.
Ryan Bailey submitted his resignation on Monday, Bailey confirmed. Institutional investor on wednesday. After spending the past five years building out the Children's Health Investment Office, his last day on the job will be Aug. 23.
He said he had accepted a position with another organization, but declined to disclose the location or details of his new position, as long as he remained in his current role.
The health system's investment office manages a portfolio of about $2 billion in foundations, pensions and managed assets, according to Mr. Bailey and his LinkedIn profile. Proceeds from these assets support the medical efforts of Dallas' top children's hospitals and nonprofit organizations across Texas.
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It is unclear who will take over the role of investment director or whether the organization plans to search externally for a replacement.
Mr Bailey, investment director, said: christy hamilton He will remain at Children's Health as second in command for portfolio management and manager selection, along with operations director Ryan Quinn.
Mr. Hamilton joined the firm in 2015 and, like Mr. Bailey, works across all asset classes, including public markets and alternatives.
Although the portfolio is fairly small by institutional standards, Mr. Bailey Said II In 2017, his team was able to secure favorable terms from some hedge fund managers.
“We've been offered a better fee deal and the managers are actively working on it,” the Dallas allocator said. “I think they recognize that 2 and 20 is no longer the market rate and would rather control that conversation than have allocators approach them.”
