With fixed income falling short in protecting on the downside, TIFF Investment Management is betting on hedge funds to help diversify some investment risks.
Despite the bad headlines and their mixed track record, TIFF Investment Management, will keep betting on hedge funds to soften the blow of market stress.
Traditional Managers Have ‘Nowhere to Hide.’ Can Hedge Funds Pick Up the Slack?
Radnor, PA – June 27, 2022 – TIFF Investment Management (“TIFF”), the not-for-profit OCIO focused on serving nonprofits with $7.8 billion AUM, including committed capital, today announced it has appointed Alyssa Rieder, Chief Investment Officer at CommonSpirit Health, and Rick Slocum, Chief Investment Officer at Harvard Management Company (“HMC”), to the Board of Directors of TIFF Advisory Services, Inc. Alyssa and Rick join the Board that includes some of the most prominent CIOs, CEOs, and leaders within the nonprofit investment industry.
Their investment expertise along with their extensive knowledge of the nonprofit industry will support TIFF’s asset allocation and portfolio construction, provide general market and investing insights, as well as experienced Board governance and oversight.
Alyssa oversees the investment team at CommonSpirit Health and its $50 billion investment program comprised of corporate, retirement, foundation, and self-insurance assets. She led the ten-fold growth of the program through a combination of organic growth and merger integration, demonstrates a thorough understanding of enterprise risk implications for strategic asset allocation, and is a recognized leader in sustainable investing. Alyssa’s previous experience as an equity portfolio manager, deep and diverse investing network, and established strength in manager selection will contribute greatly to TIFF’s mission.
Rick oversees the investment team at HMC and a portfolio of more than $53 billion. Alongside the CEO, they recently led a multi-year restructuring of HMC, transitioning the investment model to focus almost exclusively on external asset managers while also working with the University to identify the appropriate level of risk for their endowed funds. From his decades of experience in the financial industry, Rick brings a skill set that will greatly benefit TIFF, including a strong track record of building portfolios, designing asset allocation, and private equity investing.
For more information on TIFF’s Board, visit: https://www.tiff.org/people/#board-of-directors.
About TIFF Investment Management
TIFF is a mission-driven, not-for-profit organization focused on delivering investment solutions to foundations, endowments, and other charitable institutions. Since its inception in 1991, TIFF has served the non-profit community by providing experienced manager selection and access, risk-sensitive asset allocation, and integrated member service to institutions with long-term investment horizons. For more information, visit: www.tiff.org.
For media inquiries, please contact Sue Watt, swatt@prosek.com.
Rick Slocum joined Harvard Management Company (HMC) as managing director and chief investment officer in March 2017. Alongside the CEO, they have restructured the endowment’s investment operations to form a mostly outsourced investment model. They also repositioned the portfolio by increasing allocation to both hedge funds and venture capital, while working with the University to identify the endowment’s optimal risk level.
Previously, Mr. Slocum served as chief investment officer of The Johnson Company, a large single-family office based in New York City. Prior to that, Mr. Slocum was responsible for private equity and portfolio management at the Robert Wood Johnson Foundation.
Mr. Slocum has also worked as a senior director at the Office of Investments at the University of Pennsylvania, as a private placement specialist at two different banks in New York City and began his career as a credit analyst at Chemical Bank.
Mr. Slocum holds a BS and MBA from The Wharton School at the University of Pennsylvania. He currently serves on the Rockefeller Foundation’s Investment Committee.
Alyssa Rieder is an experienced board member and CIO with decades of finance and investment experience as an institutional allocator and investor. She is an expert in ESG/impact investing and experienced in scaling growth and merger integration.
Alyssa has a strong background in overseeing and managing CommonSpirit Health’s $50 billion investment program comprised of multiple pools of capital including corporate, retirement, foundation, and self-insurance assets. The program has $30 billion invested with over 150 investment managers across asset classes, alongside oversight of the manager line up of $20 billion in DC assets. Alyssa manages a staff-driven investment team, actively engaged in manager selection and monitoring, portfolio rebalancing, asset allocation, and risk management, with particular focus on sustainable and impact investing. The program has had an impressive record of long-term outperformance versus benchmarks. (Previously CIO at Dignity Health)
TIFF Investment Management’s CIO, Jay Willoughby, is cited in the June 17, 2022 issue of The Wall Street Journal. Jay is quoted on a potential recession from the Fed tightening and the impact that yields on the 2-year treasury note have on inflation.
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