Smith leaves University of Florida Investment Corporation for private firm

February 17, 2010

GAINESVILLE, Fla. — Michael D. Smith is leaving his role as the University of Florida’s first chief investment officer to become a partner at Global Endowment Management LP, a private investment firm.

He came to the university in 2004 and was key to the successful launch of the University of Florida Investment Corporation (UFICO), a management company created to oversee the investments of the university. During his six years at the university, he has been responsible for overall strategy and private investments. His last day is March 31.

Through a difficult financial climate, his leadership helped shape a long-term investment plan and strategy worthy of a research university the size of UF and earn UFICO industry accolades.

“We were fortunate to have Mike working on our side during this tumultuous time,” said UF President Bernie Machen. “He’s a smart, talented investor and committed Gator who no doubt will thrive in his next endeavor. We wish him well.”

UFICO’s investment performance consistently ranked among the top universities nationwide, and even in spite of recent volatility in the market, remains better positioned for the future than many of its peers. Indeed, the university’s leading performance has been recognized by Institutional Investor which last year named UFICO Nonprofit Investor of the Year and Large Foundation of the Year.

To date, UFICO is managing money for the University of Florida Foundation, the University of Florida Research Foundation, the University Athletic Association, Shands Teaching Hospital and Clinics, and the University of Florida with assets under management totaling over $1.6 billion. UFICO is governed by a separate board of directors comprised of individuals appointed by the university’s Board of Trustees.