Under the terms of the mandate, Cardinal Capital Management will manage two separate funds totaling $4.2 million for the Triangle Community Foundation. The accounts are expected to fund early in the second quarter of 2009.

"We are very honored to work with the Triangle Community Foundation, a fine organization, founded by the late Noble Laureate, Dr. George Hitchings, which has been highly effective in helping non-profit organizations in the Triangle area and beyond,” said Glenn Andrews, President of Cardinal Capital Management. We have had a very good relationship with the Triangle Community Foundation for a number of years and they have had funds invested with Cardinal Capital before this new mandate. We are delighted to have this unique opportunity to further expand and strengthen our partnership with the Triangle Community Foundation."

The Triangle Community Foundation worked with independent investment consultant, Colonial Consulting, LLC in the review of asset allocation and portfolio manager selection.

This entry was posted on Monday, March 30th, 2009 at 10:37 pm and is filed under Community Foundations, Foundation Management, Philanthropy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.