Stanford hires endowment's private equity officer

The institution has brought on Thomas Lurquin as director of natural resources investments. Lurquin spent several years investing private equity at the University of California.

Stanford Management Company recently hired Thomas Lurquin, a former private equity and real assets investment officer from the University of California, to work as the director of natural resources.

Lurquin joined Stanford in May, according to his LinkedIn profile. He worked in the University of California’s treasurer’s office for more than six years, from 2005 until May.

Stanford has a 7 percent “strategic allocation” to Natural Resources and a 12 percent target to private equity, according to the endowment’s annual report. As of 2011, the endowment had about $1.7 billion in natural resources investments.

At the University of California, Lurquin sourced, performed due diligence and monitored the endowment’s $3.5 billion private equity and venture capital portfolio. He also developed strategy and managed the endowment’s energy and resources portfolio and its European private equity portfolio.

Lurquin was responsible for a portfolio of 30 private equity firms with a market value of $600 million, or 30 percent of the overall private equity portfolio, according to University compensation documents from 2008. He was also expected to make sure the energy and European private equity portfolios remained “complementary” to the global private equity portfolio and other asset classes.

At the time, Lurquin was recommended for a promotion to director in the private equity programme, with a base salary of $213,466 and an annual bonus of $96,060. “[He] is playing a more pivotal role in the overall aspects of the private equity portfolio by providing input on all private equity strategies and investment decisions,” the endowment documents said. As of 2010, Lurquin was pulling in total compensation of about $403,000, according to a University of California salary database.