The Ford Foundation has hired Sherif Nahas to oversee its private equity investment activities, as first reported yesterday by newsletter Private Equity Insider. Nahas will succeed Eric Doppstadt, who was recently promoted to chief investment officer.
Nahas previously spent around seven years with the University of Virginia Investment Management Co., but was downsized as the school decided to scale back new general partner relationships. That portfolio continues to be managed by Rob Freer, who shared private equity responsibilities with Nahas.
Ford Foundation had approximately $1.7 billion worth of private equity investments as of last September 30, which was the date of its most recent public financial report. In March, Doppstadt declined to provide an updated value, except to say that private equity represented approximately 18% of Ford Foundation’s assets under management. In addition to Nahas, the group has two other fulltime private equity investment pros.
Still trying to track down exactly when Nahas starts, since he doesn’t yet have email or voicemail set up at Ford Foundation’s New York headquarters. I’ll update this post if I find out.
Update: Nahas emailed to say that his first day is July 27, and that he’ll head up both private equity and natural resources.