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Carnaroli Joins TIFF Board Roster
TIFF is pleased to announce that Craig R. Carnaroli, Executive Vice President of the University of Pennsylvania, joined the roster of TIFF board members in January. At Penn, Craig oversees the university's business affairs, including budget, finance, investments, facilities, real estate, and human resources. Previously, he was a Director in the Municipal Securities Division of Merrill Lynch. Craig is chair of the University City District and the University City Science Center and serves on the boards of the Philadelphia Industrial Development Corporation, the Greater Philadelphia Tourism and Marketing Corporation, and the Connelly Foundation. [Posted on February 1, 2012]
     
Talented Troika for TIFF Governance
TIFF is extremely pleased to announce the election of three distinguished investment professionals as new board members while bidding farewell to a departing board member, Mark Kritzman. The newly elected board members are Ashvin Chhabra, Chief Investment Officer at the Institute for Advanced Study in Princeton, New Jersey; Scott C. Malpass, Vice President and Chief Investment Officer at the University of Notre Dame in Notre Dame, Indiana; and Sandra Robertson, Chief Investment Officer and Chief Executive Officer of Oxford University Endowment Management Ltd. in Oxford, UK.

Each will serve on the board of directors of TIFF Advisory Services Inc. (TAS), the regulated investment advisor that, along with its affiliates, administers vehicles bearing the TIFF name. Biographies of the three can be found on the Boards page of this website.

We wish to offer profound thanks to Mark, who is President and CEO of Windham Capital Management in Cambridge, Massachusetts. In his six years on the board, Mark brought not only wisdom and vision to our organization and its members, particularly in the areas of portfolio construction and risk management, but also good-humored care. We are deeply in his debt. Like Mark, our three new board members will serve without compensation. [Posted on October 18, 2011]

     
Bowdoin Elects Thorndike
John Thorndike, one of three Deputy Chief Investment Officers at TIFF, has been elected a trustee of Bowdoin College, his alma mater. John focuses on selecting and monitoring external managers and overseeing internally managed investments for TIFF's comprehensive endowment solutions and the marketable investments program. We are delighted that John has joined the ranks of TIFF staffers who contribute to the non-profit sector through board service. [Posted on May 24, 2011]
     
More Website Enhancements
TIFF has spruced up and improved navigation on the password-protected pages of our website that members access to view account data and related materials. To improve the user experience within this secure portion of the site, we have installed more and clearer links, and new drop-down menus are present on every page. Importantly, the basic presentation of member account data is unchanged. This latest effort follows on the heels of our redesign work rolled out on the public pages of the site in 2010. Members with questions or concerns may contact TIFF Member Services via e-mail at memberservices@tiff.org or by phone at 610-684-8200. [Posted on May 20, 2011]
     
Valued Colleague
With regret and gratitude, TIFF will soon say goodbye to a valued colleague, Chris Douvos, who has labored tirelessly and skillfully on behalf of our members since 2004 as a managing director focusing on private equity investing. Three years ago, Chris agreed to be our man in California. Before and since, he has been superb, consistently offering unique insights and adding demonstrable value to our investment process. In a world changing at breathtaking speed, however, we felt compelled to re-examine our geographic footprint and weigh the risks and rewards of a West Coast outpost. Unfortunately, we were unable to lure Chris back from the undeniable attractions of California, and he and his family have decided to remain in Palo Alto. While we regret that decision, we understand it fully. Happily, Chris will remain with us for a generous transition period. And we are delighted to report that the TIFF investment team will enjoy net growth in the near future as we add new skilled staffers. Watch this space for details. While Chris will be greatly missed, TIFF will be moving forward with a strong sense of optimism and drive to fulfill its mission. [Posted on May 16, 2011]
     
Larry Lebowitz Joins TIFF as President and CIO
Laurence H. Lebowitz, former Chairman and Managing Director of Dallas-based HBK Capital Management, became TIFF's President and Chief Investment Officer on September 16, 2010. HBK has been an outside manager for TIFF for more than a decade. Please see the announcement by Richard Flannery, CEO of TIFF Advisory Services, and memoranda from Mr. Flannery and David Salem, TIFF's former President and CIO, related to the transition. [Posted on September 16, 2010]
     
TIFF Education Foundation's New Website
TIFF Education Foundation (TEF), the private operating foundation that provides resources aimed at enhancing non-profit fiduciaries' knowledge of investing, now has its own website! This new website includes enhanced navigation, descriptive cataloguing of all articles and Commentaries published by TEF, and full audio and text coverage of all TEF's past educational seminars. This website remains the primary home for all new educational publications as well as the foundation's annual endowment management seminar. Please visit www.tiffeducationfoundation.org to explore TEF's new home. [Posted on April 30, 2010]
     
TIFF Staffing Progress Report

The CEO of TIFF Advisory Services, Inc., has issued a brief progress report on the investment team transition first reported to our members on December 8, 2009. [Posted on February 2, 2010]

Narvekar Joins Mutual Fund Board

We are pleased to announce that N.P. "Narv" Narvekar, president and CEO of the Columbia Investment Management Co., which manages Columbia University's endowment, joined TIFF's mutual fund board as of January 1, 2010. Before taking up his duties at Columbia in 2002, Narv was Managing Director of Investments at the University of Pennsylvania and prior to that a Managing Director at J.P. Morgan, where he focused on equity derivatives and private placements. [Posted on January 7, 2010]

 
TIFF Staffing in 2010 and Beyond

By year-end 2010, TIFF Advisory Services Inc. will undergo a personnel transition aimed at perpetuating its capacity to pursue investment excellence while enabling our founding president and chief investment officer, David Salem, to devote increased time to projects outside TIFF. Memoranda about the transition from CEO Richard Flannery and from David himself are now available. [Posted on December 8, 2009]

Policy Portfolio Changes

Please click here for information regarding pending changes to the policy portfolio of a TIFF mutual fund. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website. [Posted on November 16, 2009]

Lindsey to Join TIFF Advisory Services Board

We are pleased to announce that Richard Lindsey, chief executive officer of the Callcott Group LLC, a New York-based consulting firm specializing in risk management and portfolio allocation, will join the board of TIFF Advisory Services (TAS) in December. Rich is also chairman of the International Association of Financial Engineers and serves as the independent director for the Options Clearing Corporation. Previously, he was a finance professor at Yale University, chief economist and director of market regulation at the Securities and Exchange Commission, and, until December 2006, president of Bear, Stearns Securities Corp. [Posted on September 29, 2009]

Chilton to Join TIFF Advisory Services Board
We are pleased to announce that Collette Chilton, chief investment officer at Williams College, will join the board of TIFF Advisory Services (TAS) in September. Before being named in 2006 to oversee the Williams endowment, Collette was CIO of the Lucent Technologies Inc. pension fund and of the Pension Reserves Investment Management Board of the Commonwealth of Massachusetts. She previously worked at First National Bank of Boston and Citicorp Investment Bank. Collette is a member of the Dartmouth College investment committee and of the board and investment committee of the ICMA Retirement Corp., a not-for-profit that serves public employees. [Posted on August 20, 2009]
Policy Portfolio Changes

Please click here for information regarding the July 1, 2009 changes to the policy portfolio of a TIFF mutual fund. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website. [Posted on July 1, 2009]

Lundberg to Join TIFF Advisory Services Board

We are pleased to announce that Erik Lundberg, chief investment officer at the University of Michigan, will join the board of TIFF Advisory Services (TAS) in June. Before taking up his duties in Ann Arbor in 1999, Erik was a corporate investment strategist, overseeing pension and other plan assets. He is a CFA charterholder. [Posted on May 27, 2009]

Will McLean, John Craig Join TIFF Education Foundation Board

Will McLean, chief investment officer at Northwestern University, and John Craig, executive vice president and chief operating officer of The Commonwealth Fund in New York, have joined the board of the TIFF Education Foundation (TEF). Will has been a stalwart on the board of TIFF Advisory Services (TAS) since 2000. During his tenure, Will has tirelessly and skillfully chaired multiple committees as well as the TAS board itself. Although Will stepped aside from his TAS role in March, we are delighted that he has agreed to remain within the TIFF family by shifting his wise counsel to an expanded TEF board, where he has been joined by John Craig. We thank John profusely for returning to the TIFF fold for a second tour of duty - John was a founding board member when TIFF was organized in 1991 and served until 2001. [Posted on May 27, 2009]

TIFF Mission and Outlook

Please click here for information regarding TIFF's origins, evolving mission and the outlook for certain forms of investing in which TIFF is engaged. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website. [Posted on May 20, 2009]

 

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