Michael Buchman and Yatin Patel Named Co-Chief Investment Officers for the Conrad N. Hilton Foundation
LOS ANGELES–(BUSINESS WIRE)–The board of directors of the Conrad
N. Hilton Foundation announced today that it has named Michael
Buchman and Yatin Patel as co-Chief Investment Officers for the Hilton
Foundation. Buchman and Patel will report to President and CEO, Peter
Laugharn, and will manage the investment team and portfolio for the
Foundation and related charitable trusts, with combined assets of $5.6
billion.
“It is a privilege to announce the appointments of Michael Buchman and
Yatin Patel as co-Chief Investment Officers for the Foundation,” said
Peter Laugharn, president and CEO for the Hilton Foundation. “It is rare
to have the advantage of two uniquely talented individuals working
closely alongside one another to manage our investment portfolio and
team so that we can maximize our annual grantmaking abilities. We are
pleased that our grantmaking for 2016 is expected to exceed $110
million.”
Buchman joined the Foundation in 2009 and most recently served as
Director of Investments at the Foundation. In this role, Buchman oversaw
a wide range of investment activities, including oversight of many areas
of the investment portfolio. Prior to joining the Hilton
Foundation, Buchman worked in the areas of finance, real estate and law
at Broadway Partners, Citigroup Global Investment Bank, and the law
firms of Fried Frank Harris Shriver & Jacobson, and Skadden Arps Slate
Meagher & Flom. Buchman received a juris doctorate degree from the
University of Pennsylvania Law School and a Master of Business
Administration degree and a bachelor’s degree in economics, both from
The Wharton School at the University of Pennsylvania.
Patel joined the Foundation in 2008 and most recently served as Director
of Investments. In this role, Patel oversaw a wide range of investment
activities, including oversight of many areas of the investment
portfolio. Prior to joining the Foundation, Patel was a senior
manager in corporate development at Barclays PLC and a mergers and
acquisitions analyst at Lazard Frères & Co. Patel earned a Master of
Business Administration degree from the UCLA Anderson School of
Management and a bachelor’s degree in business administration from the
Walter A. Haas School of Business at UC Berkeley.
For more information about the Hilton Foundation, including our
grantmaking, please visit www.hiltonfoundation.org.
About the Conrad N. Hilton Foundation
The Conrad N. Hilton Foundation was created in 1944 by international
business pioneer Conrad N. Hilton, who founded Hilton Hotels and left
his fortune to help the world’s disadvantaged and vulnerable people. The
Foundation currently conducts strategic initiatives in six priority
areas: providing safe water, ending chronic homelessness, preventing
substance use, helping children affected by HIV and AIDS, supporting
transition-age youth in foster care, and extending Conrad Hilton’s
support for the work of Catholic Sisters. In addition, following
selection by an independent international jury, the Foundation annually
awards the $2 million Conrad N. Hilton Humanitarian Prize to a nonprofit
organization doing extraordinary work to reduce human suffering. In
2016, the Humanitarian Prize was awarded to The Task Force for Global
Health, an international, nonprofit organization that works to improve
health of people most in need, primarily in developing countries. From
its inception, the Foundation has awarded more than $1.5 billion in
grants, distributing $107 million in the U.S. and around the world in
2015. The Foundation’s current assets are approximately $2.5 billion.
Contacts
Conrad N. Hilton Foundation
Julia Friedman,
Communications Manager
818-851-3754 / julia@hiltonfoundation.org
