Investment Governance
Management of our community’s philanthropic assets is a significant responsibility, one that Seattle Foundation exercises with great discipline and care. The Board of Trustees is responsible for management of investments, and it exercises this role by issuing an investment policy statement specifying available investment options and asset allocations. The Board also appoints members and establishes the guidelines for the Investment Committee.
The Investment Committee, a standing committee of the Board of Trustees, is charged with overseeing the investment activities of the Foundation. This includes advising the Board of Trustees on the investment policy, asset allocation strategies to meet the return objectives, and monitoring portfolio performance. The committee consists of eight members selected for their investment expertise and judgment.
Seattle Foundation also hires an independent investment consultant to assist in the investment management. The consultant provides guidance on the selection and monitoring of investment managers, allocation of assets among asset classes, management of other portfolio risk and all other aspects of portfolio management. The consultant is compensated strictly on a fee basis and receives no compensation in connection with the management of the Foundation’s assets from any other sources. Currently, the investment consultant is Crewcial Partners in New York City.
The Seattle Foundation’s Investment Committee currently includes the following members:
Joseph Boateng, Chair
Mr. Boateng joined Casey Family Programs as its first Chief Investment Officer in 2007 and is responsible for overseeing the foundation’s $2.2 billion endowment. Before joining Casey, he was a member of the Johnson & Johnson Investment Committee, responsible for managing over $17 billion. Mr. Boateng received his MBA from University of California Los Angeles and is an alumnus of the Said Business School at Oxford.
Debra Somberg, Board Member
Ms. Somberg is founder of NewView, a nonprofit organization unlocking the power of tri-sector engagement to build innovative and successful business models that tackle social problems in new and sustainable ways. She also currently serves as Chair-Elect on the board of BECU, a $25 billion financial cooperative, on the board of The Port Blakely Companies and the National Advisory Board of Stanford University’s Public Service Center. Previously, Debra co-managed Maveron LLC, a venture capital firm focused on the consumer with $500+ million under management. Debra graduated from Stanford University, phi beta kappa, and received an MBA from Harvard Business School.
Alan Heuberger
Mr. Heuberger is a Senior Investment Manager at Cascade Asset Management Company and currently oversees a number of investment areas including private assets and fixed income. He has served on various investment committees in the Greater Seattle area, including College Success Foundation, The Overlake School and YMCA of Greater Seattle. He received a B.A. in economics and mathematics from Claremont McKenna College and is a Chartered Financial Analyst.
Daniel Regis
Mr. Regis is currently the General Partner of Regis Investments, LP. Prior experience includes Chairman of the Advisory Board for Fluke Venture Partners, Managing Director of Digital Partners and President of Kirlan Venture Capital, Inc. and Managing Partner of its venture funds. Mr. Regis also spent more than 30 years with Price Waterhouse LLP, including Managing Partner of the Seattle and Northwest Group of offices. Mr. Regis received a B.S. from Seattle University.
Garth Reistad
Mr. Reistad is the Deputy Chief Investment Officer at the University of Washington, where he has over 20 years of experience. Prior to joining the University, he worked at Bank of America in San Francisco. Mr. Reistad received an M.A. in Economics from Columbia University. He serves on the Investment Committee for Seattle University.