Bittman (pictured) will become the chief investment officer of the Perella Weinberg Partners Agility Funds and be responsible for the management of that business, which is located in Austin, Texas.

The University of Colorado Foundation will become one of Perella's investment management clients effective 15 July 2009.

Bob Boldt, also a partner of the firm, will become executive chairman of the Agility business and will continue to be closely involved in the investment strategy and the management of key client relationships.

Boldt says: 'I am delighted that we have recruited Chris to Perella Weinberg Partners' Agility team. His experience, skills and track record will enable us to more effectively address our clients' investment objectives, and bring the firm's high-quality investment solutions to more endowments, foundations, pension funds and other capital pools.'

Bittman adds: 'The investment management business is undergoing significant change and I believe many institutional investors are looking for trusted advice and deep experience. The investment solutions offered by the Perella Weinberg Partners Agility business represent an attractive and highly flexible alternative to a broad range of investors. I am excited to be a part of Perella Weinberg Partners' strong asset management group and look forward to working with the Agility team to build on their successes.'

Bittman has been the chief investment officer of the University of Colorado Foundation since 2004. Prior to that, he was the president and chief executive of Jurika & Voyles, a California investment firm, where he was responsible for the management of over USD5bn for a broad variety of Fortune 500 corporations, public funds, foundations, endowments and individuals. He began his career on Wall Street as the western regional manager for Merrill Lynch's business financial services group.