An allocator’s job in 2023 isn’t an easy one. High interest rates, stubborn inflation, and challenges in markets like commercial real estate and fixed income have made it more important than ever to be innovative, adaptable, and quick-thinking.
That’s exactly what Institutional Investor’s 2023 Rising Stars are.
These 14 allocators — who work at foundations, endowments, healthcare funds, pension funds, and family offices — are individuals who are positioned to become leaders within the industry. They were selected by the editorial team from a vast and competitive pool of nominations submitted by peers, bosses, and industry experts.
The Rising Stars will be honored during Institutional Investor’s sixth annual Allocators’ Choice Awards on September 12 at the Mandarin Oriental hotel in New York City.
While the Rising Stars are announced in advance, the winners of the Allocators’ Choice Awards are still up in the air. Qualified allocators can vote on the finalists in categories like ESG Investor of the Year and CIO of the year using this link. Allocators can also request an invitation to the event here.
Now, onto the honorees. Institutional Investor’s 2023 Rising Stars are:
Paul Abrogouah, investments manager at the University of Missouri, for taking on a larger role at the endowment and leveraging his background in financial analysis and insurance to aid in decision-making. A rising star in the truest sense, Abrogouah earned a promotion to his role in January.
David Ames, managing director at Kamehameha Schools, for his thoughtful, attentive approach to investment work. A nominator highlighted his ability to collaborate with the allocator community and share useful insights when comparing notes on managers.
Christine Chang, investment officer at the Employees’ Retirement System of the State of Hawaii, for her work across responsible investment and hedging strategies at ERS, including systematic trend following, relative value/arbitrage, tail hedge, and other liquid alternatives. She recently shifted to public pension work after spending several years at GM on both public and private markets.
Wagner Dada, managing director in the systematic strategies group at CPP Investments, for his “proactive approach” to the portfolio management of CPP’s internal systematic absolute return strategies. Dada also helps develop talent within the organization by training and mentoring junior colleagues and participating in diversity initiatives.
Todd Elfman, associate director of investments at New York University, for his impressive oversight of the $5.3 billion endowment’s real estate and tangible asset portfolio. Elfman’s efficacy in private equity and credit manager selection is bolstered by experience, with the NYU investment staffer having previously worked in fund selection at Hall Capital Partners.
Jonathan Grushkin, director of absolute return and real assets at Cleveland Clinic, for being a “star” member of the team since joining six years ago as a senior investment analyst, according to a nominator. Grushkin recently rose to his current director role, which oversees $3 billion across multiple strategies.
Dawn Iglesias, investment strategist at the New Mexico State Investment Council, for providing sharp, well-informed insights for the state fund. Iglesias has a background in economics and has harnessed that experience to provide in-depth investment analysis to her team and board.
Amanda Kingsbury, alternatives investment officer at the Oregon State Treasury, for her work to bolster Oregon’s alternatives portfolio through overseeing and monitoring existing relationships, while also adding new expertise. Kingsbury’s start in investment consulting at RVK has provided her with a strong base of knowledge for her investment work.
Jared Murphy, manager of investments at the CommonSpirit Health Foundation, for leveraging his background in tech and finance to help CommonSpirit Health develop its investment program following the institution’s 2019 formation via a merger. Murphy also gives back to his community, sitting on the board at improving Education.
Andrew Siwo, director of sustainable investments and climate solutions at the New York State Common Retirement Fund, for the key role he plays in driving the pension fund’s sustainable investments across its $270 billion portfolio. Siwo brings knowledge that he gained as head of mission-related investments at OCIO firm Crewcial Partners to the pension fund.
Terence M. Thompson, director of investments at DF Enterprises, for his work to add interesting, lucrative venture opportunities to the Scottsdale, Arizona-based single-family office. Thompson takes an opportunistic approach, investing directly in businesses on behalf of the family he serves.
Van Tran, associate director for private investments at MIO Partners, for her smart, thoughtful approach to investing. Tran comes from a university investment office and was recently tapped by MIO to bring her endowment investment expertise to the family office business for McKinsey partners.
Jessica Wilbers, public markets portfolio manager at the Public School & Education Employee Retirement Systems of Missouri, for her important contributions to the pension fund’s non-U.S. equity composite allocation, resulting in additional investment revenue of more than $1.2 billion to the fund over the past five years. According to a nominator, Wilbers displays “outstanding manager selection, skillful portfolio construction, and ability to introduce new concepts” to the portfolio.
Charlotte Zhang, director of investments at the Inatai Foundation, for her articulate, research-driven approach to investing in niche asset classes. Zhang brings venture and family office expertise to a fairly new foundation, which benefits from her manager selection, asset allocation, and portfolio construction skills.
