Jeffer Choudhry, senior managing director and head of investments for Carnegie Mellon University, has been nominated to become Pitt’s new chief investment officer.
His nomination as an officer of the University will be presented to the Board of Trustees at its winter board meeting on Feb. 25.
Choudhry will replace Greg Schuler, who came to Pitt in 2018 and left the University at the end of June 2021 to pursue other opportunities. Paul Lawrence, the University’s treasurer, has been serving as acting chief investment officer in the interim.
As CIO, Choudhry will be responsible for the oversight and management of the University’s $5.6 billion Consolidated Endowment Fund. One of the tasks he will oversee is reducing Pitt’s holdings in fossil fuel-related businesses to zero by the end of 2035, a strategy proposed by an ad hoc committee and approved by the Board of Trustees in February 2021.
“I am excited to join the talented investment team at Pitt and steward this world-class endowment so that it can continue to provide financial support for scholarships and other financial aid, faculty positions and research activities now and in the future,” Choudhry said in a news release. “In doing so, I look forward to working with the many stakeholders that benefit from the endowment, fostering greater understanding of the long-term value it provides.”
Choudhry joined CMU’s investment office in 2016 as managing director and has been in his current position since 2019. He previously worked in the investment office at the Museum of Modern Art in New York City and in investment banking at Bank of America, Merrill Lynch and Morgan Stanley. He began his career as an integrated circuit designer at LSI Logic Corporation.
He earned his MBA from the Yale School of Management and his bachelor’s degree in electrical engineering from UCLA.