Don Pascal is stepping down as CEO of Commonfund Capital, the private capital business of $25 billion Commonfund, Fortune has learned. Also leaving will be managing director Greg Jensen.
Both are expected to remain with the Wilton, Conn.-based firm through the end of June 2016, which would mark the end of Commonfund’s fiscal year.
“I don’t think they have any specific plans yet,” says Keith Luke, president of Commonfund Securities (the firm’s broker-dealer subsidiary). “Each came to this decision separately, and for personal and professional reasons.”
Peter Burns, president of Commonfund Capital, will assume the CEO role once Pascal departs. The two men had originally joined at the same time 17 years ago, while Jansen came aboard in 1995.
Commonfund focuses on managing assets for nonprofits, and its Commonfund Capital unit participates in the venture capital, private equity, natural resources, emerging markets and multi-strategy asset classes.
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