With Yatin Patel Stepping Down, the Hilton Foundation Returns to a Solo CIO Model

After spending nearly five years as one of the Conrad N. Hilton Foundation’s chief investment officers, Yatin Patel is moving on.  

Patel, who worked alongside Michael Buchman as co-CIOs since 2016, has left the $6.7 billion foundation to “pursue other career opportunities,” according to a spokesperson. Patel did not return a LinkedIn message seeking comment.  

“We are grateful to Yatin for his extraordinary contributions over the past 13 years, as a staff member and an officer of the foundation, and we wish him the very best of luck in this next phase of his professional life,” the spokesperson said via email.  

Prior to joining the foundation in 2008, Patel had worked on Barclay’s corporate development team and on Lazard‘s financial institutions team, according to his LinkedIn profile. He obtained his MBA from the UCLA Anderson School of Management. 

Before he was named the Conrad N. Hilton Foundation’s co-CIO, Patel led its public equities team, Institutional Investor previously reported. Buchman, meanwhile, was the director of private equity and real assets. The two were promoted in 2016 after Randy Kim, who had been the CIO for eight years, left the foundation.  

Buchman will remain at the foundation as its sole CIO, “executing the same investment strategy,” the spokesperson said.