From the Old News, but News To Me Dep’t: The Ford Foundation has tapped private equity chief Eric Doppstadt to become its new chief investment officer, succeeding Linda Strumpf. The decision was officially made last fall, with Doppstadt to transition over this June or July.
The search for his replacement as director of private equity is ongoing, as is the search for Ford Foundation’s deputy private equity director gig. Jamesbeck Global Partners is running the process (get those resumes in).
This is a relatively unusual promotion, in that private equity folks rarely get to sit in the big chair (and not for a lack of trying). Not quite sure is that’s institutional bias or random statistic, although I’d guess the former since private equity has historically been viewed as a niche investment class (albeit a profitable one).
Doppstadt has been with Ford Foundation since 1989, and was managing a $1.7 billion private equity portfolio as of last September. No word on the portfolio’s current value, except to say that it now constitutes approximately 18% of the Foundation’s total investment value.