The Kresge Foundation, which provides grants to low-income communities and manages more than $4 billion, is seeking an investment director who will focus on public market investments, according to a job posting.
The 100-year-old organization deploys grants and social impact investments across arts and culture, education, environment, health, human services and community development. The foundation’s CIO is John Barker.
The candidate will report to the fund’s managing director of public markets. Requirements for the position include a bachelor’s degree, with a preference for a master’s degree and a Chartered Financial Analyst charter, a minimum of eight years of experience, a proven investment track record through market cycles, and experience in manager selection and portfolio construction.
“The Investment Director will be responsible for evaluating, recommending and monitoring investment opportunities across public markets (global equity, marketable alternatives, credit) and ensuring the robust portfolio construction of at least one asset class while working collaboratively with the entire team to protect and grow the endowment in a manner that is consistent with the Foundation’s mission,” the job posting states.
According to the posting, the starting salary for the Troy, Michigan-based position will be at least $249,600, but could vary based on the candidate’s experience. The job posting lists an application deadline of midnight on July 25.
The endowment, which measures its performance over market cycles of at least five years, reported an annualized 6.2% return for the five years ending December 31, 2022. That year, the fund approved 550 grants, totaling $162.8 million, and made $38 million in commitments across 13 social investments.
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Tags: Endowments, Foundations, John Barker, Kresge Foundation