Fund Evaluation Group, LLC (FEG) announced on August 15, that Michael A. Condon, CFA has joined the firm as Senior Vice President, Outsourced Chief Investment Officer (OCIO), a new position created to enhance FEG’s OCIO offerings to Endowment and Foundation clients.
Condon is a long-time thought leader within the endowment and foundation space bringing more than 20 years of experience as an acting CIO to the new role. Most recently as CIO at Southern Methodist University, he led a 15-person office and was responsible for all aspects of investing the university’s $1.5 billion endowment. As CIO for the University of Arkansas Foundation, Condon oversaw a $1.1 billion endowment. During his 10-year tenure at Georgia Tech, the foundation endowment grew from $440 million to $1.5 billion.
“We are excited to add Mike to the team. The depth of his experience from an investment and industry standpoint will be a valuable asset to our clients,” said Rebecca Wood, Managing Principal and Head of Consulting. “Mike personally knows the challenges of balancing the day-to-day demands of an investment office with the long-term mandate of intergenerational equity.”
A leader in the OCIO field, FEG has approximately $50 billion in assets under advisement.1 With a 13-year track record, FEG’s OCIO business provides its clients with highly customized solutions and leverages the full depth and capabilities of the firm’s established portfolio management, operations, and research teams.
“I am excited to join a firm that is uniquely positioned for managing global investment portfolios,” says Condon. “I look forward to leveraging my experience to help meet the needs of FEG’s outstanding OCIO clients.”
Condon also has experience at the University of South Alabama Foundation and Altus Bank. He received an MBA from Louisiana Tech University, a BS from the University of South Alabama, and is a CFA charter holder. Additionally, Condon is on the Editorial Committee for The Investment Institute, and on advisory Boards for Institutional Investor and Alternative Investment Management, LLC.
About Fund Evaluation Group, LLC: Fund Evaluation Group, LLC (FEG) provides investment consulting, portfolio management, and research services to clients nationwide. Established in 1988, the independently owned firm has approximately $50 billion in total client assets under advisement.1 FEG service lines include FEG Consulting, which provides traditional, non-discretionary investment consulting services to institutions; FEG OCIO, which provides outsourced CIO and discretionary portfolio management services for institutions and financial intermediaries; and FEG Research, which provides traditional and alternative strategies’ investment manager research, due diligence and monitoring. For more information, visit www.feg.com.
1 As of March 31, 2016. Assets under Advisement include the assets of FEG and its affiliated entities. Some asset values may not be readily available at the most recent quarter end, therefore the previous quarter's values were used for this calculation. The values may be higher or lower, depending on the current market conditions. These accounts are typically non-discretionary only. Assets under Advisement includes both discretionary assets , over which FEG has full trading authority, and non-discretionary assets which we advise and make recommendations on, but may not have authority to execute or facilitate trades on behalf of the client. AUA includes approximately $47 billion in non-discretionary assets. AUM includes approximately $2.8 billion under discretion and approximately $829 million under discretion in FEG affiliates.