American Red Cross seeks to beef up investment team

The foundation hired Greg Williamson of BP America in May to oversee the $5bn portfolio and is looking for a PE head and a senior investment manager.

The American Red Cross is seeking to hire a private equity head and a senior investment manager, the charity organisation’s chief investment officer Greg Williamson told Private Equity International.

Williamson joined the organisation in May as CIO, after serving as CIO and director of trust investments at BP America between 1991 and 2015.

Although the job postings for head of private equity and senior investment manager are no longer available on the Red Cross website, Williamson wrote to PEI in an email that “[t]he search is still underway for these positions.”

Both positions are based in the American Red Cross headquarters in Washington DC, where Williamson is.

The private equity head will oversee all activity for the asset class, which partly includes real estate, infrastructure and other illiquid instruments, according to reports. The senior investment manager's role will be to report to and advise the CIO on all investment and risk matters, reports said.

In October, the nonprofit underwent an internal reorganisation that resulted in the departure of deputy CIO Anne Shelton and managing director Edward Karppi, according to reports.

The American Red Cross foundation manages $5 billion in assets. As of June 2014 it allocated 9.24 percent to private equity, according to PEI’s Research & Analytics division.