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.