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Top Foundation Chief Investment Officers

U.S. foundations and their respective investment offices are often tasked with improving the quality of life and health care, educational funding, and research grants, all while protecting the long-term prosperity. This time of year we highlight foundation chief investment officers who successfully built investment offices from the ground up and/or continue to lead investment efforts into the future. We thank them for sharing their unique insight and approach to the uncertain times ahead. Presenting Trusted Insight’s 2022 Top Foundation Chief Investment Officers:
Chun Lai is the chief investment officer of the The Rockefeller Foundation. Chun joined the Foundation in 1996 as an Investment Associate. Over his long career at the Foundation, he held roles across multiple asset classes and functional areas, including overseeing research and asset allocation, managing the real assets and fixed income portfolios, and building and managing the hedge funds portfolio. Before assuming the CIO role in 2019, he was the Deputy CIO for 9 years, overseeing portfolio management, asset allocation, and investment research. He started his investment career at the State of Connecticut Retirement and Trust Funds from 1992 to 1996. Prior to coming to the U.S., he was an aeronautics engineer in China. Chun has a bachelor’s degree of engineering from Beijing University of Aeronautics and Astronautics, and an MBA in Finance from the University of Connecticut. He serves on the Investment Committee of the William Penn Foundation. He also holds the Chartered Financial Analyst designation from the CFA Institute. Show more
Leena Bhutta is the chief investment officer for the Doris Duke Charitable Foundation. In this capacity, Bhutta oversees the foundation’s investments team, strategy and processes. Before joining the foundation, Bhutta served as director of alternative investments at the Hollyhock Foundation. In that role she created the investment program for the foundation and initiated investments in external fund managers across various strategies. Prior to that role, Bhutta was an investment professional at Joho Capital, an Asia-focused hedge fund, where she invested in public companies across the region. She started her career in investment banking at Goldman Sachs. Bhutta earned her Master of Business Administration from the Stanford University Graduate School of Business and a Bachelor of Arts in economics from Wellesley College. Show more

Edward Grefenstette

President, Chief Executive Officer and Chief Investment Officer

The Dietrich Foundation

Edward Grefenstette serves as the President, Chief Executive Officer and Chief Investment Officer of The Dietrich Foundation. Prior to joining in April 2010, he served as Treasurer and Chief Investment Officer of Carnegie Mellon University in Pittsburgh. He previously co-founded Commonwealth Capital Group, L.P., a small-cap private equity fund, following seven years in investment banking and law. He earned his AB in Economics with honors from Georgetown University, a JD with honors from Georgetown University Law Center, and an MBA in Finance and Strategy with honors from Carnegie Mellon University. In addition to serving as a Trustee of The Dietrich Foundation, he also serves as a trustee and member of the Investment Committee of Carnegie Mellon University, a trustee and member of the Investment Committee of the University of Pittsburgh, a member of the investment committee of the University of Pittsburgh Medical Center (UPMC), a trustee of the Hillman Family Foundations and a director of The Hillman Company. Show more
Mark Baumgartner is the chief investment officer of Carnegie Corporation of New York, where he is responsible for overseeing the foundation’s endowment. Prior to joining the Corporation, he was CIO at the Institute for Advanced Study, a research institution supporting a community of scholars in Princeton, New Jersey. He has also served as director of asset allocation and risk at the Ford Foundation and as cohead of Morgan Stanley’s Global Portfolio Solutions group. Baumgartner received a PhD in aerospace engineering and a certificate in public policy from Princeton University. He also holds the chartered financial analyst designation. Show more

May Ng

Vice President and Chief Investment Officer

Annie E. Casey Foundation

May Ng is the vice president and chief investment officer at the Annie E. Casey Foundation, a foundation focused on improving the well-being of American children. Previously, she served as the director of public market investments for the foundation for over five years. Prior to that, she was the director of investment strategy and research at George Washington University Investment Office. May holds an MPA in economics and public policy from Princeton University and a B.A. in political science from Williams College. Show more

Eric Doppstadt

Vice President & Chief Investment Officer

Ford Foundation

Eric Doppstadt is vice president and chief investment officer of the Ford Foundation. Eric joined Ford in 1989 as resident counsel, working closely with the investment team. He held the position for six years, before assuming senior positions managing the foundation’s alternative investment portfolio over the next 15 years. During this time, from 2000 to 2009, he was director of Private Equity Investments, managing the foundation’s investments in private equity, venture capital, growth equity, distressed investments, and hedge funds. He was appointed to his current post in 2009. He is a director of Arch Capital Group, Ltd., Harvard Management Company, and Makena Capital Management, LLC. Eric received his undergraduate degree with honors in social science from the University of Chicago, studied international economics at the Walsh School of Foreign Service at Georgetown University, and received a law degree from New York University School of Law. He also holds the CFA (chartered financial analyst) designation from the CFA Institute. Show more
Lisa Murray is the chief investment officer for the Ewing Marion Kauffman Foundation. She leads the team that oversees the Kauffman Foundation’s globally diversified $2 billion portfolio. Previously, Murray was the managing director in Investments. Prior to joining the Kauffman Foundation, Murray was an investment consultant for Angeles Investment Advisors, where she worked with foundations and endowments, advising on all aspects of their investment programs. Murray earned a bachelor’s degree from Princeton University and a Master of Business Administration from Harvard Business School. She is a CFA holder. Show more
Aron Grodinsky is the chief investment officer at The Colorado Health Foundation since March 2022. Previously, he was managing director, investment strategy at Cresset Capital Management. Prior to that, he was an executive director at Perella Weinberg Partners’ OCIO business, Agility and prior to that a senior investment officer at George Washington University. Grodinsky holds an MBA from the University of Virginia and a bachelor's degree in mechanical engineering from McGill University. Show more

Michael Buchman

Vice President & Chief Investment Officer

Conrad N. Hilton Foundation

Michael Buchman manages the Conrad N. Hilton Foundation’s investment team and portfolio. Prior to joining the Hilton Foundation, Buchman worked in the areas of finance, real estate, and law at Broadway Partners, Citigroup Global Investment Bank, and the law firms of Fried Frank Harris Shriver & Jacobson, and Skadden Arps Slate Meagher & Flom. Buchman received a juris doctorate degree from the University of Pennsylvania Law School and a Master of Business Administration degree, and a bachelor’s degree in economics, both from The Wharton School at the University of Pennsylvania. Show more
Denise Strack has been the chief investment officer at Gordon and Betty Moore Foundation since 2008. Previously, she served as the director of private equity and real assets at the foundation for six years. Prior to that, she was the director of private equity at Stanford Management Company and an engagement manager at McKinsey & Company. She holds a BS in Industrial Engineering from Stanford University and an MBA from Stanford Graduate School of Business. Show Less Show more
Dean Duchak is the co-chief investment officer for the Kaiser Family Foundation (KFF), a leader in healthy policy analysis and health journalism. Prior to joining KFF in 2011, he worked for JPMorgan in a variety of roles within its Investment Banking and Asset Management divisions. Dean also serves as the co-chair of the Investment Committee for the Diocese of San Jose. Dean received a B.S. in finance and accounting from Georgetown University. Show more
Eleanor Hsu is co-chief investment officer at Kaiser Family Foundation (KFF). Eleanor co-leads, with Dean Duchak, the investment activities made on behalf of the Foundation. Prior to joining the Foundation, she was an associate director focused on real estate and natural resources Investments for the William & Flora Hewlett Foundation. Previously, Eleanor worked as an associate for Tishman Speyer, the Stanford Management Company, and CSFB’s Healthcare Investment Banking Group. Eleanor received a B.A. from the University of California at Berkeley, an MBA degree from The Wharton School of the University of Pennsylvania and is a CFA charterholder. Show more

Jason Matz

Chief Investment Officer

GHR Foundation

Jason Matz is the chief investment officer at the GHR Foundation, where he built an investment office and oversees investment management. Previously, he was CIO at Carleton College, where he was the first investment professional hired to build their investment office as well. Prior to that, he was the director of global equity research at Jeffrey Slocum & Associates (now Pavilion Advisory Group). Matz holds an MBA from the University of Minnesota and a BSBA in finance from the Questrom School of Business, Boston University. Show more

James Williams

Vice President, Chief Investment Officer, and Treasurer

The J. Paul Getty Trust

James Williams has been the vice president and chief investment officer of the Trust since December 2002 and was appointed treasurer in May 2006. Before joining Getty, Williams spent three years as the president of Harbor Capital Advisors and president of the Harbor Fund's family of mutual funds. Prior to that, he was manager of the pension asset management department of Ford Motor Company. Williams holds a B.S. in engineering from the University of Michigan and an M.B.A. in finance from the University of Chicago. Show more

Susan Manske

Vice President and Chief Investment Officer

MacArthur Foundation

Susan Manske is the vice president and chief investment officer of the MacArthur Foundation, where she is responsible for the management of the foundation's $9.4 billion endowment. Previously, she served as the CIO of trust investments at the Boeing Company for two years. Prior to Boeing, she spent 13 years with the Ameritech Corporation in Chicago. She is a member of the Investment Board of United Way/Crusade of Mercy, and a board member of the Educational District 181 Foundation, which serves Hinsdale schools. Manske holds an MBA from Marquette University and a bachelor's degree from the University of Wisconsin, Milwaukee. She is also a Chartered Financial Analyst. Show more
Scott Taylor is the chief investment officer of the Andrew W. Mellon Foundation.  Prior to joining the Foundation in 2018, he was a managing director at Canada Pension Plan Investment Board (CPPIB) where he oversaw the investment process and monitored the organization's public market external manager program. He previously served as a senior member of CPPIB's private investments team where he focused on private equity fund investments and private equity secondaries. Taylor began his career in mergers and acquisitions at BMO Nesbitt Burns.  He is a former member of the European Corporate Development team at Level 3 Communications. Taylor holds a master's in finance from London Business School and a BBA from Wilfrid Laurier University. Show more
Shawn Wischmeier is the chief investment officer at Margaret A. Cargill Philanthropies, where he has served since 2012. He also sits on the Minnesota State Board of Investment (MN SBI) Investment Advisory Committee. Previously, he was the CIO of the North Carolina Retirement Systems and CIO at Indiana Public Employees' Retirement Fund. Wischmeier holds an MBA from Northwestern University, Kellogg School of Management, and a B.S. in chemical engineering from Rose-Hulman Institute of Technology. Show more

Jay Flaherty

Vice President & Chief Investment Officer

Charles Stewart Mott Foundation

Jay Flaherty is the vice president and chief investment officer at the Charles Stewart Mott Foundation. He joined Mott in 2007, after working for eight years in similar capacities at Richards & Tierney and Ennis Knupp & Associates, investment advisory firms in Chicago. He also held positions as a financial analyst and reliability statistician for agricultural and computer technology firms in Wisconsin and Illinois. Flaherty holds a master’s degree in mathematics from Northwestern University, a master’s degree in business administration from the University of Chicago’s Booth Graduate School of Business, and a bachelor’s degree in computer science and mathematics from Saint Mary’s University of Minnesota. Show more
Donald Lindsey is the chief investment officer at American Institutes for Research (AIR), one of the world's largest behavioral and social science research and evaluation organizations. At AIR, he manages a broadly diversified portfolio, develops investment policies and procedures, monitors market trends and seeks new investment opportunities. Previously, he was the CIO at The George Washington University for nearly 12 years. Don has over 31 years of experience in managing investments for not-for-profit and higher education institutions. Don holds a Master of International Policy and Practice from The George Washington University, an MBA from James Madison University and a B.A. in political science from Virginia Tech. Show more
Robert Thomas is the chief investment officer at the George Kaiser Family Foundation, where he is responsible for the financial administration and management of GKFF’s investment portfolio. Before joining the Foundation, he was a portfolio manager for the Bill Gates investment office. The Gates office invests the personal assets of Mr. Gates as well as the assets of the Bill & Melinda Gates Foundation. Thomas is currently the board chair for both City Year Tulsa and Undercroft Montessori School. Originally from Washington state, Thomas earned a B.A. in economics from Claremont McKenna College and is a Chartered Financial Analyst charterholder. Show more

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