Cambridge endowment fund managers quit

Four senior staff have resigned from their jobs with UK higher education’s biggest endowment fund, after facing increasing pressure from climate change campaigners to sell its holdings in oil and gas companies.

Nick Cavalla is expected to leave his role as chief investment officer at the University of Cambridge’s £6.2-billion fund later this year, along with Bruce Lockwood, Conor Cassidy and Vincent Fruchard, according to a Financial Times report on 14 September.

All four, who oversaw the university’s main investment pot worth £3.3bn, will join Talisman Global Asset Management, an asset management business owned by the Pears property owning family, according to the paper.