Jay Willoughby, chief investment officer of the $51 billion Alaska Permanent Fund Corp., Juneau, was named CIO of The Investment Fund for Foundations, effective Oct. 13, said TIFF spokesman Paul Horvitz.
Mr. Willoughby will replace Larry Lebowitz, who resigned in the spring. Dick Flannery, CEO, had been filling in as interim CIO while the search for a permanent CIO was underway.
TIFF had more than $11 billion in assets under management as of Sept. 30.
Alaska Permanent will discuss plans for a replacement for Mr. Willoughby at its next regular board meeting Sept. 29-30, an APFC spokeswoman said. No decisions on an interim replacement or permanent replacement have been made.