UI Foundation Announcement: Chief Investment Officer

Dear Colleagues:

The University of Illinois Foundation announces that Ellen J. Ellison, CFA has resigned her position as Chief Investment Officer of the University of Illinois Foundation. After more than eight years serving the University of Illinois System, Ellison will pursue other endowment and investment-related activities as a passionate advocate for higher education.

Ellison was hired in January 2013 to establish and build the Foundation's first internally managed investment office that today includes five investment professionals. When Ellison arrived, the Foundation endowment was approximately $1.0 billion in assets under management. During her tenure, the Foundation's endowment has grown through returns and contributions to $2.3 billion. Ellison has been gratified by the talent and devotion of the large University of Illinois alumni community who have been supportive of this new program.

The Foundation thanks Ellen for her service over the past eight years and wishes her the best in all future endeavors. Edward Creedon, Director of Private Investments, has been appointed interim CIO. The Foundation is initiating a national search for a replacement CIO.

Sincerely,

Jim