Hilton Foundation Deputies Named Co-CIOs | Chief Investment Officer

Hilton Buchman_Patel duo The Conrad N. Hilton Foundation has named Michael Buchman and Yatin Patel as co-investment chiefs of the $5.6 billion fund.

Buchman and Patel had served on ex-CIO Randy Kim’s staff before he resigned earlier this year, with Buchman leading private equity and real assets while Patel headed public equities.

Following Kim’s abrupt exit, the pair was appointed to “co-manage the investment team and portfolio,” a fund spokesperson told CIO in May. Buchman and Patel’s promotion to co-CIOs is a continuation of that role.

“It is a privilege to announce the appointments of Michael Buchman and Yatin Patel as co-chief investment officers for the foundation,” said Peter Laugharn, president and CEO of the Hilton Foundation. “It is rare to have the advantage of two uniquely talented individuals working closely alongside one another to manage our investment portfolio and team.”

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Buchman, who joined the foundation in 2009, previously held roles in finance and law, most recently working as an associate at real estate firm Broadway Partners. He holds an MBA and law degree from the University of Pennsylvania.

Patel came to the Hilton Foundation in 2008 from Barclays, where he served as a senior manager in corporate development. His previous roles include working as a mergers and acquisitions analyst at Lazard. Patel holds an MBA from the UCLA Anderson School of Management.

EDHEC-Risk Institute has appointed National Employment Savings Trust (NEST) CIO Mark Fawcett as chairman of its international advisory board.

The advisory board consults and advises on research and educational initiatives brought on by the EDHEC-Risk Institute. Fawcett has been a “tremendously active” member for the last six years, bringing “a wealth of experience in the retirement space,” said Lionel Martellini, EDHEC Business School professor and institute director.

“EDHEC-Risk Institute is extremely fortunate to have in its new board chair such an experienced and talented individual,” Martellini said. “Mark… is an extremely relevant fit with respect to our institute’s increased focus on welfare improving investment solutions for both institutional and individual investors.”

Fawcett has served as NEST’s investment chief since before its launch in 2011, overseeing the constructing and expansion of the £1.2 billion ($1.5 billion) defined contribution (DC) plan. His 27-year investing career has included the CIO role at American Express Asset Management International and a partner position at Thames River Capital.

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Last year, Fawcett was appointed to the investment committee of the Universities Superannuation Scheme (USS) in support of the £49 billion pension’s new DC offering.

“I look forward to supporting EDHEC-Risk Institute in continuing to deliver actionable insights for asset owners and managers with a view to generating better returns for investors,” Fawcett said. “This type of thought leadership is particularly pertinent given the shifting regulatory and economic outlook in the UK and globally.”

As chairman, Fawcett succeeds Tomas Franzén, former chief investment strategist at AP2 and founder of Franzen Advisory. Other board members include Chris Ailman of the California State Teachers’ Retirement System, David Iverson of the New Zealand Superannuation Fund, and Kaust Investment Management CIO Gumersindo Oliveros.