Perella Weinberg to control Colorado endowment -FT

July 14 (Reuters) - Boutique investment bank Perella Weinberg is expected to say on Tuesday that its asset management arm has hired a new chief investment officer, Christopher Bittman, from the University of Colorado, The Financial Times reported.

The university will also shift control of its entire $825 million endowment to Perella Weinberg.

The move will triple the size of Perella Weinberg's Agility fund management business, one of three branches of its asset management unit, which currently has $400 million under management and is run out of Austin, Texas, the paper said.

The University of Colorado's endowment would finish the year down just over 17 per cent, representing a shallower loss than those suffered at some of the country's other leading institutions, the paper reported Bittman as saying in an interview.

Bittman has served as the university's chief investment officer since 2004, the daily said.

According to the paper, Bob Boldt, a Perella Weinberg partner who helped build the Agility funds, will become Agility's executive chairman. (Reporting by Hezron Selvi in Bangalore, editing by Will Waterman)