Christopher Vogt, the head of alternatives for the $95.6 billion pension and insurance fund Allstate Investments has told friends and colleagues that he is leaving the fund to join the Margaret A. Cargill Philanthropies foundation, where he will serve as director of equities. Vogt will join Shawn Wischmeier, former CIO of the $72 billion North Carolina Retirement Systems, who was appointed CIO of Margret Cargill philanthropies. Vogt will report to Wischmeier.
Based in Eden Prairie, Minnesota, Margaret A. Cargill Philanthropies comprises three grantmaking groups founded by the late Margret Cargill Margaret A. Cargill Foundation, Anne Ray Charitable Trust and Akaloa Resource Foundation. The fund, whose asset base of around $6 billion makes it one of the largest foundations in the country, is now in the process of building its investment portfolio.
I am thrilled to be helping the organization construct its investment group from the ground up, Vogt told Allstate colleagues in an e-mail obtained by Institutional Investor. I am certain my experience and education can assist this effort. I look forward to successfully guiding the equity function for the philanthropy as it ramps up its operations.
Vogt has developed a reputation as a thought leader in the alternative investing space. In January he co-wrote a white paper with executives from the alternatives investment manager Investcorp, entitled Hedge Funds Are Not An Asset Class: Implications For Institutional Portfolios. The paper explored the empirical justification for viewing hedge fund investments as part of a broader asset allocation, not isolating them within an alternatives pool. As head of equity investing at Margret A. Cargill Philanthropies, Vogt will oversee all equities, including hedge funds and private and traditional equities.