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TIAA-CREF Unit To Run Carnegie Endowment
The Carnegie Foundation for the Advancement of Teaching has appointed Kaspick & Company as its endowment fund manager.
TheCarnegie Foundation for the Advancement of Teachinghas appointedKaspick & Companyas its endowment fund manager. The subsidiary ofTIAA-CREFwill be managing the $87 million endowment fund of the foundation.
The new manager will begin overseeing the endowment assets of the foundation in California by the end of March 2011, addsPensions & Investments. A $10 million endowment from the Carnegie Foundation in 1918 had launched theTeachers Insurance and Annuity Association.
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