Category: Press

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.

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.

U.S. Stock Wobble as Volatile Trading Persists

Hedge funds can provide critical protection for institutional portfolios amid the current volatility, according to a recent paper from TIFF Investment Management, an outsourced chief investment officer, or OCIO, that serves mostly nonprofit investors.

Certain hedge fund strategies can provide a “happy medium” between fixed income and equities in investor portfolios, said Zhe Shen, co-portfolio manager for diversifying strategies at TIFF. That’s especially as fixed income – traditionally depended on to provide stability during equity drawdowns – has been experiencing losses along with the equities market, he said.

Read the full article, FundFire: Hedge Funds Offer ‘Happy Medium’ Between Equities, Fixed Income: OCIO

“Being down this much in this short period of time — that gets our attention,” says Trevor Graham, head of equities.

Value investing may be back, but TIFF Investment Management, a firm that provides outsourced chief investment officer services, is already reconsidering growth investments.

“We’re now looking at deeply-out-of-favor areas of growth,” said Trevor Graham, head of equities.

Read the full article, Institutional Investor: TIFF Asks Whether It’s Time to Invest in Floundering Growth Stocks

As market conditions look set to change dramatically, higher-education endowments can still achieve excess returns if they go about building their portfolio with strong equities exposure and strategies from smaller managers, according to a recent paper from TIFF Investment Management.

“We would argue that the excess returns that some of these organizations earned, and that we have earned in the recent past, are in fact sustainable,” said Matt Hoehn, co-head of customized asset allocation for the outsourced chief investment officer.

Read the full article, FundFire: Equities Core, Smaller Managers Key to ‘Excess Returns’ for Endowments: Report