September 21, 2001
University Park, Pa. – Penn State’s Board of Trustees renewed the one-year terms of its five non-University representatives to the Penn State Investment Council today (Sept. 21).

The Board established the Council last September to provide direct oversight of the University’s endowment and long-term investment program in response to Penn State’s increasing asset base and complex marketing strategies. The Council regularly reviews asset allocation, new asset classes, investment strategies, and manager performance, and provides semi-annual updates and reports regarding investment performance to the Board of Trustees.

The non-University council members who had their terms renewed by the Board are: Timothy J. Crowe, vice president and chief financial officer of The John S. and James L. Knight Foundation in Miami; Kenneth G. Mertz II, chief investment officer of Emerald Advisers, Inc. in Lancaster; Arthur D. Miltenberger, vice president and chief financial officer (retired) of R.K.Mellon & Sons in Ligonier; Arthur J. Nagle, managing director of Vestar Capital Partners in New York; and Linda B. Strumpf, vice president and chief investment officer of The Ford Foundation in New York.

Consisting of nine Board-appointed members chaired by Gary Schultz, senior vice president for finance and business/treasurer of the University, the Penn State Investment Council includes the executive director of the office of investment management, corporate controller, vice president for development and alumni relations, and five non-University representatives.

*aek*

Contact: Allison Kessler, Department of Public Information at (814) 865-7517 or aek143@psu.edu.