WILTON, Conn. (HedgeWorld.com)–The former vice president and chief financial officer of the John D. and Catherine T. MacArthur Foundation recently was hired as chief investment officer for Commonfund, a fund manager for nonprofit institutions.

Lyn Hutton will oversee investment strategy, portfolio management, due diligence and manager selection effective Jan.1, 2003 for all funds, as well as non-investment products and services.

In her former position with the MacArthur Foundation, Ms. Hutton oversaw the financial administration and management of its US$4 billion portfolio. Before that, she was vice president and treasurer for Dartmouth College and senior vice president, administration and treasurer for the University of Southern California.

President and Chief Executive Robert Bovinette said in a statement that Ms. Hutton’s role would be the firms’ top investment decision-maker for the US$29 billion Commonfund manages.