Stanford Management Company’s (SMC) director of private equity Sarah Kim has left the endowment to join multi-family office ICONIQ Capital, according to her LinkedIn profile.
Her move follows a shakeup of the investment division at Stanford University by its new chief executive Robert Wallace in July, according to reports. Wallace was named president and CEO of SMC in March, after serving as CEO and chief investment officer of Alta Advisers. A few months after joining SMC, he dismissed most of its managing directors and directors, including Karen Horn Welch, director of portfolio strategy, and Josh Richter, head of public equity.
While SMC declined to comment on individual personnel matters, Stanford spokeswoman Lisa Lapin wrote to Private Equity International on Wallace’s behalf: “SMC is always trying to upgrade its capabilities and Rob says that the team is coming together very nicely.”
Kim is now part of the private markets and co-investments team at ICONIQ, whose roster of clients is said to include Facebook Inc. founder Mark Zuckerberg. Her LinkedIn indicates she assumed her new position at ICONIQ in February.
Wallace replaced outgoing SMC CEO John Powers, who is now a managing director at Credit Suisse, according to Powers’ LinkedIn. Powers had been president and CEO of SMC for about nine years. Since his transition to SMC, Mark Shoberg joined SMC as managing director from University of Texas Investment Management Company (UTIMCO), in February, according to his LinkedIn. Another current managing director, Jay Kang, joined SMC last year from Conrad N. Hilton Foundation, according to his LinkedIn.
Requests for comment sent to ICONIQ and Kim’s direct email were unanswered at press time.