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TIFF Appoints Board Members, Board Chairs

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.

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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.

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