pursuing investment excellence on behalf of endowed non-profits

The Organizations' Boards

The organizations´ boards comprise experienced institutional investors, including the chief investment officers of leading endowments and foundations. Board assignments are listed after each name. TAS refers to TIFF Advisory Services, a regulated investment advisor; and mutual fund refers to the family of mutual funds that bear the TIFF name.

Mark Baumgartner, Ph.D., is Chief Investment Officer at the Institute for Advanced Study in Princeton, New Jersey. Previously, he served as Director of Asset Allocation and Risk at the Ford Foundation and Managing Director, Senior Portfolio Strategist, and Head of the Portfolio Architecture team for Morgan Stanley Investment Management’s Global Portfolio Solutions group. Mr. Baumgartner serves as a trustee of the YMCA Retirement Fund. He is a CFA charterholder. [mutual fund board]

Craig Carnaroli is Executive Vice President of the University of Pennsylvania in Philadelphia, Pennsylvania, where he oversees the university's business affairs, including budget, finance investments, facilities, real estate, and human resources. Previously, he was a Director in the Municipal Securities Division of Merrill Lynch. Mr. Carnaroli is chair of the University City District and the University City Science Center and serves on the boards of the Philadelphia Industrial Development Corporation, Visit Philadelphia, and the Connelly Foundation. [mutual fund board]

Collette Chilton is Chief Investment Officer of Williams College in Williamstown, Massachusetts. She was formerly CIO of the Lucent Technologies Inc. pension fund and of the Pension Reserves Investment Management Board of the Commonwealth of Massachusetts. Prior to serving in these posts, she worked at First National Bank of Boston and Citicorp Investment Bank. She serves on the boards of the Center for Private Equity and Entrepreneurship at The Tuck School of Business at Dartmouth and the Berkeley Endowment Management Company. She also serves on the investment committee for The Edna McConnell Clark Foundation. [TAS board]

Richard Flannery is Chief Executive Officer of TIFF Advisory Services and President and Chief Executive Officer of TIFF's family of mutual funds. He was formerly Executive Vice President of the global money management firm Delaware Investments. Mr. Flannery serves on the Investment Committee of the Financial Industry Regulatory Authority (FINRA) and on the Compensation Committee of Mercy Investment Services, Inc. He also serves on the board of the Nelson Foundation. [TAS board]
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Peter Holland is Chief Executive Officer of Columbia University Investment Management Company, where he also served as Chief Investment Officer. Previously, he was co-head of the US Equities Derivatives Group at J.P. Morgan and also worked in the company’s Private Placement Group and Investment Banking (Financial Services Group). Mr. Holland serves on the Investment Committee of The College Board. [TAS board]

Kim Lew is Vice President and Chief Investment Officer of the Carnegie Corporation of New York. Previously, she was a technology strategist and senior manager overseeing venture capital and buyout investments at the Ford Foundation. Before joining Ford, she worked at Prudential and Chemical Bank. Ms. Lew serves as board chair of the Stevens Cooperative School and is a member of the Investment Committees of Wesleyan University and the American Civil Liberties Union Foundation. She is also a member of the mutual fund board of Ariel Investments and serves on the Steering Committee of the Private Equity Women Investor Network. Ms. Lew is a CFA charterholder. [TAS board, effective September 2018]

Scott Malpass is Vice President and Chief Investment Officer at the University of Notre Dame in Notre Dame, Indiana. He has served as CIO since 1989. Previously, he worked at Irving Trust (now Bank of New York). Mr. Malpass teaches investment and portfolio management at Notre Dame's Mendoza College of Business, and he serves on the investment advisory committee for Major League Baseball and for the Financial Industry Regulatory Authority (FINRA). He also serves on the boards of the Vatican Bank, Saint Joseph Regional Medical Center, the Vanguard Group, and the Vanguard mutual funds, and he advises numerous US charities on their investments. [TAS board chair]

Bill McCalpin is Managing Partner, Impact Investments, of Athena Capital Advisors, LLC. Formerly, he was Chief Executive Officer of Imprint Capital Advisors, LLC, an investment firm focused on generating measurable social and environmental impact, alongside financial return; Executive Vice President and Chief Operating Officer of The Rockefeller Brothers Fund; and director of investments related to programs at the John D. and Catherine T. MacArthur Foundation. Mr. McCalpin was a founding director of TIFF. He is Chair of the Board of Trustees of the Janus Funds and serves as a director of the F.B. Heron Foundation. [mutual fund board chair]

Gumersindo Oliveros, Ph.D., is Chief Executive Officer and Chief Investment Officer of the financial endowment for King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. Previously, he managed the World Bank's pension plan, medical plan, and endowments, and he advised central banks, pension plans, and sovereign wealth funds on strategic asset allocation and multi-asset management. He also headed the World Bank's Capital Markets and Financial Engineering Department and held positions at the International Monetary Fund. Mr. Oliveros serves on the board of the Sequoia Heritage Fund, the Investment Committee of The Rockefeller Foundation, the Investment Committee of the United Nations Pension Plan, and the Investment Steering Committee of the Alternative Investment Management Association. He is a CFA charterholder. [TAS board]

Pamela Peedin is the former Chief Investment Officer at Dartmouth College in Hanover, New Hampshire. Previously, she was Chief Investment Officer at Boston University and a Managing Director at Cambridge Associates, where she focused on endowments and foundations. Ms. Peedin serves on the Board of Overseers and the Investment Committee of the Isabella Stewart Gardner Museum as well as on the Investment Committee of Partners HealthCare. She is also a member of the investment advisory boards of two family offices. [TAS board]

Dennis Sugino is the Founder of Kansa Advisory LLC in Huntington Beach, California. Previously, he was an Executive Committee member and Partner at Aristotle Capital Management. Mr. Sugino was the President and Co-Founder of Cliffwater LLC and before that a Managing Director and Principal at Wilshire Associates. He was formerly a Chief Investment Officer with the City of Los Angeles. Mr. Sugino is a U.S.-Japan Council board member and Investment Committee chair, Mercy Health Investment Committee member, and Keiro Health board member and Investment Committee chair. [TAS board]

Neal Triplett is President and Chief Executive Officer of DUMAC, LLC, which manages endowment and retirement funds for Duke University as well as investments for the university’s health system and the private charitable trust of Duke’s founder. Previously, he was a credit officer for the corporate and real estate portfolios at Wachovia Bank. Mr. Triplett serves on the advisory committee for North Carolina’s state pension funds and on the investment board of the North Carolina-based non-profit MCNC. He is a CFA charterholder. [TAS board]

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