New Hanover Community Endowment Selects BlackRock as Investment Advisor and Manager
October 26 2022 - 8:00AM
Business Wire
New Hanover Community Endowment (NHCE) today announced
the appointment of BlackRock as its investment advisor and manager
in the oversight of approximately $1.1 billion in community
endowment assets. The partnership between the two organizations,
combining BlackRock’s investment expertise and the forward-looking
vision of NHCE’s leadership and Investment Committee, will
strengthen fiduciary oversight and help ensure endowment assets are
invested in line with NHCE’s investment policy and long-term
objectives.
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“Our partnership with BlackRock is a crucial step in our plan to
establish NHCE as a community resource for generations to come,”
said William Buster, CEO and President of NHCE. “As one of the
largest endowments in North Carolina, we have a unique opportunity
and responsibility to meaningfully improve the lives of New Hanover
residents. In BlackRock, we’ve identified an asset manager that
shares our unwavering commitment to help secure the financial
future of the Endowment.”
As NHCE was established during 2020, its leadership was tasked
with defining the endowment’s structure, governance, mission, and
vision during a time of unprecedented market complexity and
volatility. An important consideration in hiring BlackRock was
selecting an investment manager with the scale, resources, and
expertise to take on the current challenges of the markets, and who
was also devoted to working in close partnership with NHCE to
understand its organizational needs to best serve the
community.
“Endowments face a unique set of challenges in this market
environment, and we’re prepared to meet those challenges hand in
hand with NHCE,” said Lili Forouraghi, Head of Endowments and
Foundations at BlackRock. “BlackRock’s research edge and investment
expertise will provide NHCE with a strong advantage to navigate
current markets, and we look forward to working in partnership with
them to set a course toward long-term success.”
With a long-term horizon in mind, BlackRock designed an
investment portfolio for NHCE with the ability to adapt as NHCE’s
requirements evolve, including NHCE’s upcoming plans to accept
grant applications. The endowment assets will be managed by a team
of highly experienced BlackRock professionals in partnership with
NHCE, and will be invested in a diversified, cost-effective
portfolio across all major asset classes, including public equity,
fixed income, as well as alternative investments.
Jeff Saef, Head of the Americas Region for Multi-Asset
Strategies and Solutions at BlackRock said, “Our partnership with
NHCE is an extraordinary opportunity to help secure the financial
future of this organization at a critical time for the New Hanover
community. We are honored to be entrusted with this assignment, and
to build and manage an investment portfolio designed to deliver the
best possible outcomes for NHCE and its beneficiaries.”
About NHCE
The New Hanover Community Endowment’s mission is to improve the
health, education, safety, and economic opportunity of every person
in the New Hanover County community. The organization seeks to
identify and address the root challenges in these areas, aiming for
long-lasting and deeply impactful solutions.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate.
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BlackRock
Barbara Williams barbara.williams1@blackrock.com
646-231-1626
Thomasin Bentley thomasin.bentley@blackrock.com 646-231-1769
Kristen Rivera kristen.rivera@blackrock.com 646-231-8352
NHCE
Jada Harkins Andrews Jada@EandVGroup.com 919-371-8661
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