Commonfund Capital’s president and CEO Verne Sedlacek is set to leave the investment management firm after 11 years.
The firm said Sedlacek will carry on as CEO until a replacement is found.
Commonfund does not have a definitive timeframe to name a replacement and the process could take up to a year.
The firm noted that it will be looking to find only its fifth president and CEO since its launch in 1971.
Prior to joining Commonfund in 2002, Sedlacek served as President and COO of John W. Henry & Company, president and director of Westport Capital Management Corporation and Global Capital Management.
He has also worked as executive vice president and chief financial officer for the Harvard Management Company.
Chairman Robert Litterman said, “On behalf of our entire board I would like to thank Verne for his outstanding leadership and his unwavering commitment to serving Commonfund clients.”
Last month Commonfund appointed former managing director of Cambridge Associates Miriam Schmitter as a director in its London office.
Earlier in 2014 Commonfund hired Cari Lodge as managing director to support its growth within the secondaries space.
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