Type: Press Release

TIFF Investment Management Expands Mutual Fund Board with Notable Industry Leaders and Advisory Board Appoints New Chair

Mark Baumgartner, Dalio Family Office CIO, named Mutual Fund Board Chair. Robert Durden, CEO and CIO of UVIMCO, extends board role by becoming Advisory Board Chair; William McCalpin retires after 15 years

Radnor, PA — January 25, 2024 — TIFF Investment Management (“TIFF”), an institutional asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private markets solutions primarily to nonprofits, announced today the addition of Leena Bhutta, CIO of Doris Duke Foundation, and Thomas Lenehan, CIO of The Wallace Foundation, to TIFF’s Mutual Fund Board. Mark Baumgartner, CIO of the Dalio Family Office, has been named chair of the Mutual Fund Board, succeeding William (“Bill”) McCalpin, who is retiring after 15 years of service. Robert Durden, CEO and CIO of UVIMCO, has been appointed the chair of TIFF’s Advisory Board.

TIFF’s Mutual Fund and Advisory Boards are comprised of leaders from globally renowned institutions. The Mutual Fund Board oversees TIFF’s 40 Act Fund, and both Boards lend their investment insights and institutional perspectives to TIFF’s clients and portfolios.

“It is an honor to build upon Bill’s legacy as the TIFF Mutual Fund Board Chair,” said Mark Baumgartner. “Bill’s leadership, dedication, and mission focus has been crucial to TIFF’s clients and their ability to achieve their missions.”

“TIFF and I are extremely grateful for Bill’s commitment to serving nonprofits. We welcome Leena, and Thomas, and thank Mark for stepping into a leadership role,” said Kane Brenan, CEO of TIFF. “The Mutual Fund Board’s distinctive oversight allows us to deliver investment excellence and serve as a valued partner to nonprofit organizations.”

Leena Bhutta serves as the CIO for the $2bn endowment of the Doris Duke Foundation, an organization committed to building a more creative, equitable, and sustainable future. Previously, Leena held roles at Goldman Sachs and Joho Capital. Originally from Pakistan, Leena earned a bachelor’s degree from Wellesley College and an MBA from Stanford University.

Thomas Lenehan is CIO of The Wallace Foundation, a nonprofit that fosters improvements in learning and enrichment for young people and in the arts for everyone. Previously, Thomas was the deputy CIO of The Rockefeller University and held roles at Commonfund Capital and Vista Equity Partners. Thomas earned a bachelor’s degree from Georgetown University and an MBA from Stanford University.

“After four years of supporting TIFF’s Board in various capacities, including as TIFF Board Chair, I am excited and honored to serve as the chair of TIFF’s Advisory Board,” said Robert Durden. “The Advisory Board is a critical element of TIFF’s ability to continue to deliver outstanding investment results for its clients and to strengthen its competitive position in the industry.”

Robert is the CEO and CIO of UVIMCO, where he leads the organization and is responsible for the investment management of UVIMCO’s $14bn portfolio. Prior to joining UVIMCO, Robert served as Senior Vice President and CIO at Texas Children’s Hospital in Houston. Robert received his bachelor’s degree in economics, magna cum laude, from Princeton University, and an MBA in finance and entrepreneurship, with honors, from the University of Chicago Booth School of Business.

About TIFF
TIFF is an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private markets solutions primarily to endowments, foundations, and other charitable organizations. As of September 30, 2023, TIFF manages approximately $7 billion, including committed capital.

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

The materials are being provided for informational purposes only and constitute neither an offer to sell nor a solicitation of an offer to buy securities. These materials also do not constitute investment, legal or tax advice. Opinions expressed herein are those of TIFF and are not a recommendation to buy or sell any securities.

TIFF Investment Management Appoints David Brenner as Chief Operating Officer

Radnor, PA – January 19, 2024 – TIFF Investment Management (“TIFF”), an institutional asset management firm delivering comprehensive outsourced CIO (OCIO) and private markets solutions primarily to endowments, foundations, and other charitable organizations, today announced the appointment of David Brenner as Chief Operating Officer. His hiring follows the recent retirement of Robert Zion. David will be responsible for strategy and operations at TIFF, with oversight of the finance, operations, information technology, legal, compliance, and human resources functions.

Prior to joining TIFF, David spent eight years at Macquarie Asset Management, most recently as Global Head of Digital, Data & Products, where he led all areas of Macquarie Asset Management through a data and digital transformation. Brenner also spent more than a decade at UBS Global Asset Management, where he served as Chief Operating Officer (Americas).

“I am honored to join TIFF Investment Management to build upon the stewardship of Robert Zion and the current team as they safeguard our 33-year legacy and adapt it to meet the most current needs of our clients,” said David. “I look forward to working closely with my teammates at TIFF in helping clients achieve their missions.”

In addition to David’s appointment, TIFF has promoted Zane Hamid, formerly Head of Operations, to Member Strategy Director, Head of Strategic Client Initiatives, a newly created role within TIFF’s client facing group. He will report to Jessica Portis, Head of Member Portfolio Management and Services. Zane, a 17-year veteran of TIFF, will continue to oversee the Member Services team and serve on the Business Management Committee.

Anuja Navaratna will assume Zane’s previous role as Head of Operations. Having joined TIFF in 2011, Anuja oversees investment operations, reporting & analytics, and data administration functions within the firm. Anuja will report to David Brenner.

“TIFF is grateful for the impact Robert Zion made on our employees and clients in his years of service as Chief Operating Officer. We wish Robert well in retirement,” said Kane Brenan, CEO of TIFF. “We are thrilled to welcome David and to recognize Zane and Anuja in their new roles, and we look forward to the opportunities that lie ahead to continue to provide our clients with industry leading solutions.”

About TIFF Investment Management
TIFF is an asset management firm dedicated to delivering comprehensive outsourced CIO (OCIO) and private markets solutions to primarily endowments, foundations, and other charitable organizations. Our primary objective is to enhance investment returns for our 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 clients fulfill their mission and achieve their financial goals. We offer two primary solutions for our clients – 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 clients.

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

The materials are being provided for informational purposes only and constitute neither an offer to sell nor a solicitation of an offer to buy securities. These materials also do not constitute investment, legal or tax advice. Opinions expressed herein are those of TIFF and are not a recommendation to buy or sell any securities.

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.

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

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.