Topic: TIFF Updates

TIFF Investment Management Appoints Jim Russo, CFA as a Director in the Member Strategy Group

Former Crewcial Partners executive joins TIFF to lend expertise to nonprofit clients

Radnor, PA — October 16, 2023 — TIFF Investment Management (“TIFF”), an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private equity investment solutions primarily to endowments, foundations, and other charitable organizations, today announced that Jim Russo, CFA has joined the firm as a Director in its Member Strategy Group. Mr. Russo, with 35 years of asset management experience, will be responsible for managing member relationships and identifying custom asset allocation strategies best suited to each member’s needs.

Before joining TIFF, Mr. Russo was a senior investment consultant at Crewcial Partners, where he performed asset allocation modeling, manager due diligence, and spending policy analysis, as well as managing relationships with a wide range of nonprofit clients. Prior to his 15 years at Crewcial, Mr. Russo was Senior Portfolio Manager for Alliance Growth Equity at AllianceBernstein and in portfolio management and due diligence leadership roles at J.P. Morgan’s Private Bank and Asset Management businesses.

“A key part of TIFF’s mission is to develop targeted strategies that further the investment and mission objectives of members,” said Mr. Russo. “I am thrilled to join a team of dedicated professionals and look forward to partnering with TIFF’s members in pursuit of financial and organizational success.”

“In today’s market environment, the value of customized advice and investment services cannot be emphasized enough,” said Jessica Portis, Head of Member Portfolio Management and Services at TIFF. “Jim brings invaluable institutional experience in nonprofit client service to the Member Strategy Group, and we look forward to introducing him to our members.”

“We understand that our members expect strong investment results and equally strong service,” said Kane Brenan, CEO of TIFF. “Jim’s background in serving nonprofit institutions and his investment expertise bring incredible depth to TIFF’s Member Strategy Group and further reaffirms our commitment to providing first class advice and service to our members.”

About TIFF Investment Management
TIFF is an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private equity investment solutions to primarily endowments, foundations, and other charitable organizations. Our primary objective is to enhance investment returns for our members (clients) while also optimizing their costs and reducing their administrative burden.

For over 30 years, TIFF has strived to be the nonprofit community’s most trusted investment partner. We specialize in providing investment solutions that help our members fulfill their mission and achieve their financial goals. We offer two primary solutions for our members – comprehensive advisory solutions, and more specialized asset class specific solutions. As of June 30, 2023, TIFF manages approximately $8 billion, including committed capital, on behalf of our members.

Contact: For media inquiries, please email: pro-tiff@prosek.com.

Kane Brenan, CEO of TIFF Investment Management, emphasizes the ongoing debate surrounding the performance of private equity strategies, suggesting that some investors are questioning whether the glory days of private equity are a thing of the past. Brenan underscores the importance of institutions selecting the right managers and hints that underwhelming results may prompt endowments to re-evaluate to find the most qualified managers.

Read the full article here.

TIFF’s new structure will strengthen its competitive position and its commitment to clients, their missions, the broader nonprofit community, and TIFF’s employees

Radnor, PA — July 12, 2023 — TIFF Investment Management (“TIFF”), an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private equity investment solutions primarily to endowments, foundations, and other charitable organizations, recently announced that it intends to convert from a non-stock corporation to an employee-owned public benefit limited liability company.

TIFF believes this proposed reorganization will be greatly beneficial to TIFF and its clients. TIFF employees will be able to have equity in the firm, putting TIFF on equal footing with its peers in attracting and retaining top talent in an increasingly competitive landscape. The long-term nature of equity incentives better aligns TIFF with its clients’ longer investment time horizons. The public-benefit feature affirms and strengthens TIFF’s ongoing commitment to nonprofits and mission-focused organizations through direct and indirect financial support that reflects TIFF’s culture of giving back to clients and communities.

“The changes to our organizational structure will benefit our dedicated employees and valued clients, and improves TIFF’s positioning for ongoing success,” said Kane Brenan, CEO of TIFF. “Our Board, senior management, clients, and employees are excited about this transformation, seeing it as a natural evolution in our 30-year legacy of delivering exceptional OCIO services to nonprofits. We are enthusiastic to continue our mission through an organizational structure that will better enable TIFF to thrive in the years to come. We also are thrilled with the commitment of our team to invest their personal capital for equity alongside our clients.”

TIFF’s current Board of Directors, comprised of CIOs and executives from globally renowned institutions, is expected to become an advisory board that remains primarily focused on investment strategy and nonprofit best practices. The day-to-day management of the organization will remain with the firm’s current senior leaders, who will also form the new governing Board of Directors of TIFF. There are no other anticipated changes to the TIFF team, investment approach, operations, or portfolio managers.

“TIFF’s storied 30-year history has made a positive and lasting impact on the investment landscape. Our goal is to set TIFF up for success for the next 30 years, ensuring its continued growth as an industry leader,” said Robert Durden, TAS Board Chair, and CEO and CIO of the University of Virginia Investment Management Company (UVIMCO). “The Board is thrilled by the leadership demonstrated by the management team and pleased by their willingness to invest in the firm. This will enable TIFF to further its ability to provide important investment solutions to clients, so that they can fulfill their missions and financial goals. We are excited about the future and the possibilities that lie ahead for TIFF.”

About TIFF
TIFF is an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private equity investment solutions to primarily endowments, foundations, and other charitable organizations. Our primary objective is to enhance investment returns for our members (clients) while also optimizing their costs and reducing their administrative burden.

For over 30 years, TIFF has strived to be the nonprofit community’s most trusted investment partner. We specialize in providing investment solutions that help our members fulfill their mission and achieve their financial goals. We offer two primary solutions for our members – comprehensive advisory solutions, and more specialized asset class specific solutions. As of December 31, 2022, TIFF manages approximately $8 billion, including committed capital, on behalf of our members.

Contact: For media inquiries, please email: pro-tiff@prosek.com

As we enter 2023, TIFF’s CEO, Kane Brenan, shares a 2022 year-end review and 2023 outlook. Kane writes about TIFF investment, service, and addresses the 2023 initiatives and priorities that will help TIFF achieve our mission to deliver investment excellence in 2023 and beyond. To read TIFF’s Annual CEO Letter, please download the PDF.

TIFF Investment Management Appoints Carolyn Patton, CFA as Head of Private Market Client Solutions

Radnor, PA—November 16, 2022 — TIFF Investment Management (“TIFF”), an asset management firm dedicated to delivering comprehensive OCIO services to endowments, foundations, and other charitable organizations, today announced that it has hired Carolyn Patton, CFA as Head of Private Market Client Solutions. Based in TIFF’s Radnor, Pennsylvania headquarters, Ms. Patton will work alongside the investment team optimizing the role of Private Market investments in member portfolios, conducting a holistic analysis of TIFF’s Private Markets solutions, and developing implementation strategy, including portfolio customization.

Ms. Patton joins TIFF in this newly created role from Sustainable Growth Advisers, where she spent nearly three years as Director of Business Development. In addition to working with boutique organizations throughout her 25+ year career, Ms. Patton previously worked in senior strategy and distribution roles at some of the leading investment management firms in the industry including Morgan Stanley Investment Management, Janus Capital Group, Turner Investments, and Deutsche Asset Management.

“TIFF is a mission-based organization that works alongside our nonprofit members to help them meet their investment needs,” said Ms. Patton. “I am proud to join a team of talented professionals who are dedicated to providing exceptional investment counsel to enable charitable organizations, endowments, and foundations to fulfill their missions.”

“In today’s dynamic financial markets, it’s incredibly important to understand our members’ investment goals,” said Brendon Parry, Head of Private Markets at TIFF. “Carolyn brings a deep strategic background to the team. Her extensive institutional experience will be immensely beneficial to TIFF members considering customized approaches to their Private Markets programs.

“TIFF was founded with the goal of allowing smaller nonprofits access to the same investment strategies and premier managers as their larger and better-resourced peers. Our Private Markets offering is differentiated by a targeted and nimble approach, focused on access to exceptional managers and investing in the lower end of the market, both of which we believe are key components for generating alpha,” said Kane Brenan, CEO of TIFF. “Carolyn brings to our team years of institutional client solutions experience. Her expertise will allow us to continue to provide, in our view, best-in-class Private Markets advice and solutions to our members.”

About TIFF Investment Management
TIFF is an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private equity investment solutions to primarily endowments, foundations, and other charitable organizations. Our primary objective is to enhance investment returns for our members while also optimizing their costs and reducing their administrative burden.

For over 30 years, TIFF has strived to be the nonprofit community’s most trusted investment partner. We specialize in providing investment solutions that help our members fulfill their mission and achieve their financial goals. We offer two primary solutions for our members – comprehensive advisory solutions, and more specialized asset class specific solutions.

For media inquiries, please contact pro-tiff@prosek.com.