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Stanford Endowment's Greg Milani Is Stepping Down After Revamp

Stanford Endowment's Greg Milani Is Stepping Down After Revamp

(Bloomberg) -- Greg Milani, a senior managing director at Stanford University’s endowment, will step down later this year after helping to spearhead a reboot of the organization, a school spokesman confirmed.

Milani joined the university after it hired Robert Wallace in 2015 as chief executive officer of Stanford Management Co., the entity that oversees the $26.5 billion endowment, among the largest in higher education. Milani and Wallace had previously worked together at Alta Advisers, the family office of Swedish billionaire Hans Rausing.

Wallace, who was trained by Yale University’s David Swensen, has remade Stanford’s investment office, overhauling the staff and concentrating bets in the portfolio as he seeks to improve performance. The university, located near Palo Alto, posted a three-year return of 7.8% through last June, compared with Yale’s 8.9%, according to data compiled by Bloomberg.

Milani didn’t respond to a request for comment. His planned departure was reported by Institutional Investor on Friday.

To contact the reporter on this story: Michael McDonald in Boston at mmcdonald10@bloomberg.net

To contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Vincent Bielski

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