Following the recent departure of one of its chief investment officers, the family office of Walmart heir Lukas Walton has promoted the remaining CIO to lead a newly consolidated investment team. Builders Vision has promoted Noelle Laing to the sole CIO of the impact investment firm.

Previously, the family office used a dual CIO model in which Laing served as investment chief for the philanthropic arm — Builders Initiative — while Rebecca Carland oversaw the asset management division. Now that Carland has left Builders Vision to rebuild the John S. and James L. Knight Foundation’s investment office, Laing will take over the new position and consolidate the office’s investment strategies into one practice with a combined team of nearly 30 investors.

Builders Vision’s focus on the oceans, energy transition and agriculture sectors is embedded in all of the organization’s investment portfolios. As CIO, Laing will continue to oversee the Foundation’s endowment portfolios and guiding Builders Vision’s catalytic investment efforts. Additionally, under the consolidated investment team, Laing will lead Builders Vision’s global, multi-billion-dollar asset management portfolio, which invests across public and private markets through third-party fund managers and co-investments.

Walton said in a statement that under Liang, the newly united investment “will inspire further co-investment and help catalyze markets,” before adding: “Through increased coordination and shared vision, we can be even more effective at pursuing these goals across our sectors.”

As CIO of Builders Initiative, Laing managed the Builders Initiative Foundation’s $1.7 billion endowment, transitioning 90 percent of the portfolio to mission-aligned investments in 2022. She also led a team of investors allocating more than $300 million toward supporting impact-driven entrepreneurs, companies, and fund managers, with a particular emphasis on transformational opportunities in oceans, food & agriculture, and energy.

Prior to Builders Initiative, Liang was a managing director at Cambridge Associates, where she worked with institutional and family clients to develop and execute mission-related and impact investment programs and portfolios. She also worked in the American Red Cross’ and at Taft Hartley Pension Plan’s investment offices.