Tuesday, January 20, 2015
Alfred P. Sloan Foundation Announces Retirement of William B. Petersen, CIO
The Alfred P. Sloan Foundation announces that William B. Petersen, Senior Vice President and Chief Investment Officer, will retire in 2015. Mr. Petersen has served as the Foundation’s first Chief Investment Officer since 1998. He will assist the Foundation’s president and investment committee in the search for a new Chief Investment Officer. Mr. Petersen’s retirement caps a successful 16-year track record of managing the Foundation’s investment portfolio. During Petersen’s tenure as CIO, the Foundation’s endowment grew at an annualized rate of 8.7 percent, 4 percent higher than the annualized growth rate of the S&P 500 over the same period. As of September 30, 2014, Foundation assets totaled approximately $1.9 billion.
“The first responsibility of the Foundation is to be a wise steward of the funds placed in our trust by Alfred P. Sloan Jr.,” says Paul L. Joskow, President of the Alfred P. Sloan Foundation. “No one has better fulfilled that responsibility than Bill Petersen. Thanks to his prudent leadership, the Foundation today is better positioned than ever before to achieve its mission of accelerating advances in science, technology, engineering, mathematics, and economics.”
“Looking back at the past sixteen years, Bill has much reason to be proud and the Foundation has much reason to be grateful,” says Richard Bernstein, Chair of the Foundation’s Investment Committee. “ Bill has put together a first-class investment team that’s delivered superior returns. He’s a good friend and a great investor. He will be sorely missed.”
Though he will retire from full-time work, Petersen will continue to serve on the investment committee of the Wenner-Gren Foundation and as a special advisor to Market Street Trust Company. In retirement, he is looking forward to having more time to spend with his family and to pursue his many, varied interests. “When I joined the Foundation, I never imagined I would be fortunate enough to spend 16 years working with such outstanding colleagues and investment managers in support of the Foundation’s important mission,” says Petersen. “I’ll be forever grateful to the Foundation for the opportunity given to me to enjoy such a rich and rewarding experience.”