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Kellen LLC reports strong January returns; trustees discuss benchmarks and private equity effects
Summary
Kellen LLC presenter Alex Browning said net investment income for January was about $85 million, reported asset-class and manager updates, and explained a shift to the Cambridge private equity benchmark; trustees asked about attribution, peer comparisons and allocation effects.
Alex Browning of Kellen LLC gave the investment performance presentation for the quarter ended Dec. 2025 and the flash for January 2026, telling trustees the trust's net investment income for January came in at about $85,000,000 and that the flash showed returns ahead of cumulative monthly targets.
"Net investment income came in at 85,000,000 as of the month of January," Browning said, and described a cumulative target rate of…
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