The Nathan Cummings Foundation, New York, announced Thursday it hired Bivium-WestFuller as its new outsourced chief investment officer.
Bivium-WestFuller is a partnership of Bivium Capital and WestFuller Advisors, according to a news release from the foundation, which has an endowment of approximately $500 million. Both firms are Black-owned.
"Our primary goal is to continue our journey to maximize all of our assets for societal impact," Rey Ramsey, a foundation trustee, member of the investment committee and interim CEO, said in the news release.
Bivium Capital "focuses on values-aligned investing and sourcing diverse, emerging managers," the news release said. WestFuller Advisors, provides "investment solutions for families and institutions seeking meaningful social impact and financial returns."
The two firms have nearly $2.5 billion in assets under advisement, excluding the foundation's endowment, the news release said.
The foundation announced in 2018 that it had moved all of its assets to mission-aligned investing.
A foundation representative did not return a request for comment.
