Laurence H. Lebowitz will become president and chief investment officer of The Investment Fund for Foundations on Sept. 16.
He replaces David A. Salem, TIFF’s founding president and CIO, who is reducing his day-to-day duties. Mr. Salem will serve as an adviser to the firm and will remain president of the TIFF Educational Foundation, which offers investment training to endowment and foundation trustees, said Paul Horvitz, a TIFF spokesman.
Mr. Lebowitz was chairman and managing director of alternative investment manager HBK Capital Management until his retirement at the end of 2009. Information about his successor at HBK could not be learned.
TIFF manages $8.5 billion in mutual funds and other investment vehicles using a manager-of-managers format for a client base of about 750 U.S. endowments and foundations, according to Mr. Horvitz.