Institutional Investors

University of Maryland hires Gallo as CIO

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Samuel Gallo is joining the University System of Maryland Foundation as its news chief investment officer. Gallo had been a managing director at Pricewaterhouse Coopers previously, with a focus on best practices in institutional investment management.

Gallo will join the $925 million foundation in July and will bring experience in risk management, hedge fund research, asset manager selection, portfolio construction and performance reporting and /monitoring.

The university foundation’s hedge fund allocation at the end of June 2011 was roughly $179 million to absolute return strategies and $225 million to long/short equity hedge funds.

According to Leonard Raley, president