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Endowments and foundations

Kresge Foundation adds second investment director

Venus B. Phillips was named an investment director at The Kresge Foundation, Troy, Mich., the foundation announced Wednesday.

Ms. Phillips started in her new role on Monday. She joins Sean Feng, who also is investment director at the foundation. Ms. Phillips' position is new.

The foundation has about $4 billion in its investment portfolio.

Ms. Phillips was head of public markets at Fiat Chrysler Automobiles NV, Auburn Hills, Mich., where she led the investment strategy for the company's pension funds and employee savings plans, according to a Kregse news release.She also worked as an international equity and foreign exchange manager at FCA.Details of her replacement could not be learned by press time.

"As we work to protect and grow Kresge's endowment to support the foundation's work across the country, Venus' deep experience in leading and managing investment strategies will be a tremendous asset to our team," Robert J. Manilla, Kresge vice president and chief investment officer, said in a statement.