Key Takeaways
- • K. Niles Bryant will become senior vice president and chief investment officer at Bowdoin College effective July 1, 2021, succeeding Paula Volent, who is stepping down in June after more than twenty years in the role.
- • Bryant will oversee Bowdoin's $1.8 billion endowment (as of June 30, 2020), the largest portion of which is permanently restricted to student financial aid.
- • Bowdoin's endowment returned 10.7% (three-year), 8.5% (five-year) and 11.6% (ten-year) annualized as of June 30, 2020, all in the top fifth percentile among college and university peers.
- • Bryant joined Bowdoin's investment office in April 2020 as director of investments, after serving as director of real assets at the Gordon and Betty Moore Foundation.
Summary
Bowdoin College has named K. Niles Bryant as its next senior vice president and chief investment officer, a position that makes him responsible for the college's $1.8 billion endowment as of June 30, 2020, according to the college's announcement. His appointment takes effect July 1, 2021. He succeeds Paula Volent, who announced in February 2021 that she intends to step down in June after more than two decades in the post. As CIO, Bryant will be a member of Bowdoin's senior leadership team and will report to President Clayton S. Rose.
Bryant joined Bowdoin's investment office in April 2020 as director of investments. He previously spent sixteen years as an investment professional, most recently as director of real assets at the Gordon and Betty Moore Foundation, a Bay Area private foundation with an $8 billion endowment. From 2004 to 2008 he was associate director of investments at the Carnegie Corporation of New York, where he worked with Chief Investments Officer D. Ellen Shuman. Before entering investing, Bryant practiced as an attorney specializing in capital markets and mergers and acquisitions at Dewey Ballantine and Winston & Strawn. He holds a law degree from Duke University School of Law (1998) and an MBA from Dartmouth's Tuck School of Business (2003).
According to the college, the endowment comprises more than 1,700 individual funds. In fiscal 2019-2020 it provided $71.8 million to annual operations, with approximately $33 million supporting financial aid, roughly three-quarters of the college's $45 million financial aid budget. The portfolio is diversified across domestic and international equities, fixed income, private equity, venture capital, real estate and absolute return strategies. Stanley Druckenmiller '75, chair of the Investment Committee, said he looks forward to working with Bryant. Volent said Bryant had worked alongside her and the committee during the recent challenging period, and that she expects a smooth transition over the following four months.
Bryant joined Bowdoin's investment office in April 2020 as director of investments. He previously spent sixteen years as an investment professional, most recently as director of real assets at the Gordon and Betty Moore Foundation, a Bay Area private foundation with an $8 billion endowment. From 2004 to 2008 he was associate director of investments at the Carnegie Corporation of New York, where he worked with Chief Investments Officer D. Ellen Shuman. Before entering investing, Bryant practiced as an attorney specializing in capital markets and mergers and acquisitions at Dewey Ballantine and Winston & Strawn. He holds a law degree from Duke University School of Law (1998) and an MBA from Dartmouth's Tuck School of Business (2003).
According to the college, the endowment comprises more than 1,700 individual funds. In fiscal 2019-2020 it provided $71.8 million to annual operations, with approximately $33 million supporting financial aid, roughly three-quarters of the college's $45 million financial aid budget. The portfolio is diversified across domestic and international equities, fixed income, private equity, venture capital, real estate and absolute return strategies. Stanley Druckenmiller '75, chair of the Investment Committee, said he looks forward to working with Bryant. Volent said Bryant had worked alongside her and the committee during the recent challenging period, and that she expects a smooth transition over the following four months.
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