Exclusive: Casey Foundation CIO retires

Burt Sonnenstein leaving $2.7 billion charitable foundation.

FORTUNE -- Sometimes it's actually best to ask a question when you don't know the entire answer.

In this morning's Term Sheet email, I wrote the following blind item: Can you name the chief investment officer of a VC/PE-friendly foundation who just quit? 

The person I had in mind was Harold Bradley, who is leaving the Ewing Marion Kauffman Foundation (read more). But some readers thought I was talking about someone else: Burt Sonnenstein, chief investment officer for the $2.7 billion Annie E. Casey Foundation.

Turns out Sonnenstein also has given notice, after more than a 10-year run. Word is that there is a succession plan in place, but the organization is not yet providing specifics. No word yet on who is successor will be, or if one has been selected.

Sonnenstein also was unavailable for comment, with an assistant saying he would be "in and out of the office over the next few weeks."

Prior to joining the Casey Foundation, Sonnenstein was president and CEO of United Educators Insurance for 11 years. Before that, he was VP of finance and administration at Wellesley College in Massachusetts and treasurer of Wesleyan University in Connecticut.

Through the end of 2011, Casey Foundation assets included around $600 million in both public equity and hedge fund investments, plus another $419 million in private equity investments. The public equities piece does not include around $416 million in UPS (UPS) common stock. Annie Casey was the mother of UPS founder UPS founder James Casey, who set up the foundation alongside his siblings.

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