The Investment Fund for Foundations hired David Fallace, former director of investments — special opportunities at the $50 million Alaska Permanent Fund Corp. Fallace joins TIFF as a managing director focused on Diversifying Strategies, including manager research, selection and monitoring for TIFF’s absolute return program. The appointment is effective Jan. 19, 2016.
David R. Fallace, Director of Investments-Special Opportunities at the $50 billion Alaska Permanent Fund Corp. (APFC), will join The Investment Fund for Foundations (TIFF) in a senior investments role, TIFF Chief Investment Officer Jay Willoughby announced today.
Mr. Fallace, 43, will be a Managing Director overseeing TIFF’s Diversifying Strategies, Mr. Willoughby said. The role will include manager research, selection, and monitoring for TIFF’s Absolute Return program; guiding the hedge fund component of TIFF’s Outsourced CIO strategies; and deepening TIFF’s investment efforts across a broad spectrum of special opportunities. The appointment is effective January 19, 2016.
Mr. Fallace will join two other Managing Directors (Trevor Graham and Stephen Vicinelli) in reporting directly to Mr. Willoughby, who resigned as CIO at APFC in September 2015 to fill the CIO role at TIFF.
“Dave is one of the most creative, intelligent, and experienced investment professionals I know,” Mr. Willoughby said. “He spearheaded some of our most innovative and successful investments at APFC, and I believe he will add an important new dimension to TIFF’s already strong team.”
TIFF’s CEO, Dick Flannery, added: “Dave Fallace was Jay’s number one choice to join our investment team. Like Jay, he is a high-energy guy who brings intensity and passion to our investment team. I am delighted that he will join Trevor, Stephen, and Jay in directing our deep investment staff.”
At APFC, Mr. Fallace managed a roughly $10 billion allocation to assets and markets experiencing supply and demand imbalances, including opportunistic investments in hedge funds, credit, and energy, as well as direct venture investments. Before joining APFC in 2013, he was Vice President at Haugen Custom Financial Systems, a stock quantitative research firm providing factor models to hedge funds, mutual funds, and other institutional investors. Previously, he was Vice President at GF Private Equity Group, focusing on alternative investments for the Southern Ute Indian Tribe. He also helped evaluate and monitor the full range of the tribe’s roughly $5 billion investment portfolio.
Mr. Fallace earned a BA from the State University of New York at Stony Brook, with a dual major in economics and political science. He also holds MBA and JD degrees from the State University of New York at Buffalo. He participated in competitive lacrosse and rowing during his college years and took a portion of his undergraduate studies at Oxford University in the UK. He and his wife, Regina, have two children, Morgan (8) and Abigail (6).
Founded in 1991, TIFF manages about $10 billion of endowment assets for roughly 800 non-profit organizations across the U.S., including schools, hospitals, museums, and grant-making foundations.
More About TIFF
TIFF is a mission-oriented investment organization created by a network of foundations with the express purpose of serving the investment needs of the non-profit community. TIFF operates as a taxable non-profit and has no equity owners. The organization provides pooled, multi-manager investment strategies exclusively for non-profits and related entities. Most of the independent board members overseeing TIFF’s work manage major endowments and volunteer their time to TIFF. For more information about TIFF, please visit www.tiff.org.