Indianapolis—Lumina Foundation for Education announced today that CornerStone Partners, LLC of Charlottesville, Virginia, has been selected as its outsourced investment advisor effective February 1, 2010. Cornerstone Partners will work in partnership with the Lumina investment staff to manage Lumina’s portfolio currently valued at $1.1 billion. Serving as an extension of Lumina’s internal investment process and the board’s investment committee, CornerStone will focus on managing a customized portfolio aligned with Lumina’s mission and ensuring a high level of fiduciary excellence.
“CornerStone is the right choice for Lumina because we get a team of experienced professionals, all providing their best ideas,” said Jamie Merisotis, Lumina’s president and chief executive officer. “This partnership will provide long term consistency and expertise with our investment strategy and supports Lumina’s work toward our big goal of increasing the percentage of Americans with high-quality degrees and credentials.”
“We find it rewarding to work with people whom we respect in an organization that we admire,” said Kevin W. Schuyler, partner at CornerStone Partners. “Increasing educational access and success is vital for our country—for both our economy and our democracy. We are proud to join Lumina in pursuing this important goal.”
About Lumina Foundation
Lumina Foundation for Education is committed to enrolling and graduating more students from college—especially low-income students, students of color, first-generation students and adult learners. Our goal is to increase the percentage of Americans who hold high-quality degrees and credentials to 60 percent by 2025. Lumina pursues this goal in three ways: by identifying and supporting effective practice, through public policy advocacy, and by using our communications and convening power to build public will for change.
About CornerStone Partners
CornerStone Partners is an independent, SEC registered, investment management firm founded in 1997. The firm oversees, on an advisory and discretionary basis, approximately $3.7 billion in assets invested globally in all the major traditional and alternative asset classes.
For more information, contact Lumina Media Relations, at 317.517-3675.
