How David Swensen Influenced Hilton’s New CIOs

The gospel according to the originator of the Yale model extends to a new generation of nonprofit CIOs. Among them are Yatin Patel and Michael Buchman, co-CIOs of the Conrad N. Hilton Foundation.

Illustration by Yarek Waszul.

All eyes have watched the Ivy League funds as they’ve been wracked by leadership upheavals, underperformance, and strategy pivots (the three often related). Count the Conrad N. Hilton Foundation as an exception. Like many of its peers — Harvard, Columbia, Cornell, Dartmouth — the fund changed investment chiefs in 2016.

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