Former hedge fund manager Joseph Dowling will join the likes of David Swensen, Jane Mendillo, and Narv Narvekar as the Ivy League's newest chief investment officer.
Brown University has appointed Dowling to lead its $2.8 billion endowment, making him the second CIO in the school's history. The role was created in 2000, and has been filled by an interim CIO since Cynthia Frost stepped down at the end of 2012.
Dowling has spent the last five years managing his own money and "that of a select group of strategic investors" in a private partnership, according to the university's press office.
From 1998 to 2006, Dowling managed up to $1 billion as the founder of Narragansett Asset Management, a New York-based hedge fund. The firm liquidated its assets following nearly three years of weak returns, according to a 2006 New York Post report.