East Coast Community Foundation OCIO Evaluation and Search
Client & Objective
A community organization overseeing more than $150 million across multiple investment pools engaged North Pier to evaluate and select a discretionary OCIO. The program spans a main pool, three foundations, an agency pool, a donor-advised fund pool, and a charitable remainder trust pool, with risk-tiered options in some pools. The Committee sought an OCIO that could align policy with mission, improve reporting and governance across pools, support staff and donor-facing meetings, and deliver competitive pricing.
Process
North Pier ran a focused OCIO search. We confirmed goals with staff and Committee leadership, reviewed current policy, allocations, private investments, fees, and reporting, and defined the scope for IPS support, asset allocation, private markets oversight, and back-office coordination where appropriate.
We issued a tailored RFP with minimum thresholds for foundation and endowment OCIO experience, and a seven-year quarterly composite track record. Emphasis areas included community foundation experience, private markets and legacy illiquids, reporting quality, pricing transparency, independence, and donor and agency meeting support.
Results
-Once the winning firm was selected a significant fee concession was negotiated.
-Aligned IPS and asset allocation across pools, including treatment of legacy illiquids and any risk-tiered options.
-Set the oversight cadence and outlined support for donor and agency meetings.
-Launched an onboarding plan with a first-year calendar covering reporting templates, private markets workflow, audit support, and coordination with service providers.