David FallaceThe Investment Fund for Foundations (TIFF) has nabbed
another executive from the Alaska Permanent Fund.
David Fallace, who served as director of investments for “special opportunities” at the sovereign fund, will join the endowments and foundations outsourcer effective January 19. At TIFF, Fallace will be a managing director overseeing diversifying strategies.
He follows his former boss, Alaska Permanent’s ex-CIO Jay Willoughby, who left the $50 billion fund last September to lead TIFF.
“Dave is one of the most creative, intelligent, and experienced investment professionals I know,” Willoughby said in a statement. “He spearheaded some of our most innovative and successful investments at [Alaska Permanent], and I believe he will add an important new dimension to TIFF’s already strong team.”
In his new role, Fallace will monitor the absolute return program, conduct manager research and selection, and guide TIFF’s hedge fund program. He will also be responsible for deepening TIFF’s investments in special opportunities.
TIFF’s CEO Dick Flannery added that Fallace was CIO Jay Willoughby’s “number one choice to join our investment team.”
Fallace spent the past three years at Alaska Permanent managing a roughly $10 billion allocation to “assets and markets experiencing supply and demand imbalances,” the release said.
Prior to joining the sovereign fund, Fallace served as vice president at equity quantitative research fund Haugen Custom Financial Systems, and at GF Private Equity Group.
He holds a bachelor’s degree from the State University of New York at Stony Brook, as well as an MBA and JD from the State University of New York at Buffalo.
TIFF manages about $10 billion for roughly 800 nonprofit organizations.