About
Jay Willoughby, CFA, currently serves as Chief Investment Officer at TIFF Investment Management in Boston, where he leads investment strategy and chairs the Investment Committee. In this role, he is responsible for allocating capital on behalf of over 600 nonprofit clients, leveraging the endowment model and active management across portfolios of all sizes. His focus encompasses public and private markets, including equities, real estate, hedge funds, and private equity, where he seeks to identify skilled managers who can generate alpha and support long-term institutional missions.
Prior to TIFF, Jay was CIO of the $50 billion Alaska Permanent Fund, a sovereign wealth fund, where he developed deep expertise in portfolio construction and large-scale asset allocation. Earlier, he was co-managing partner at Ironbound Capital Management and held senior investment roles at Merrill Lynch, including as CIO of the Private Investors Group and head of research for equity funds, further honing his expertise in equities and alternative investments.
Jay holds an MBA in Finance from Columbia Business School and a BA in Biology from Pomona College, and is a Chartered Financial Analyst. He is recognized for his strategic vision in manager selection, portfolio risk management, and advancing innovation in investment practices for foundations and endowments. He also serves on the board of American Homes 4 Rent, a real estate investment trust, reflecting his continuing engagement with the real assets sector.
Career History
| Organization | Role | Date Range | Details |
|---|---|---|---|
| TIFF Investment Management | Chief Investment Officer | Oct 2015 to Present | — |
| Alaska Permanent Fund | Chief Investment Officer | Nov 2011 to Oct 2015 | • Responsible for all investment activities of a fully diversified $50+ billion sovereign wealth fund, investing across public and private debt (sovereign, inflation linked, corporate, asset backed, h... |
| Ironbound Capital Management | Co-Managing Partner | Sep 2006 to Oct 2011 | Recruited to become co-managing partner by a former Merrill Lynch Investment Managers colleague. Ironbound is a mid-size global long-short, long-biased equity hedge fund. Responsible for coordination... |
| MLIM Private Investors | Chief Investment Officer | Apr 2003 to Aug 2006 | Managed 160 person high net-worth business for MLIM with approximately $40 billion in AUM. Re-organized 21 office, 50 portfolio manager business to turn asset losses of $2 billion per year into asset ... |
| Head of Research - MLIM Equity Funds | Head of Research for Equity Funds | May 2000 to Aug 2006 | Worked with the President and the CIO of equity funds to improve coordination of analytical efforts across fund analyst teams. Organized sector meetings, rated analysts, set up common research reposit... |
| Merrill Lynch Real Estate Fund | Senior Portfolio Manager | Nov 1997 to May 2001 | Hired to manage a new REIT fund. Strong first-year performance followed by two sub-par years and lack of market growth led to fund closure in 2001. |
| AEW Capital Management | Managing Director | Jan 1995 to Oct 1997 | Hired to build a team to manage REIT portfolios. Grew business from zero to approximately $650 million in less than three years. Worked with head of marketing to call on consultants and institutional ... |
| The Crabbe-Huson Company | Partner | Apr 1986 to Dec 1994 | Managed several funds in areas encompassing money markets, short-term government bonds, intermediate fixed income, Oregon municipals bonds and REIT securities. Participated in marketing presentations ... |
| Black & Company | Equity Research Analyst | Jan 1984 to Mar 1986 | Analyzed and published stock research on northwest regional companies. |
Education
Columbia Business School
MBA, Finance
1981 — 1983
Pomona College
B.A., Biology
1977 — 1981
Skills & Expertise
Others at Tiff Advisory Services Inc. (10)
| Name | Role | Location |
|---|---|---|
| Client Portfolio Analyst | United States | |
D Damiano Cuppone | Investment Analyst | Brookline, MA , United States |
N Nicholas Lam | Private Equity Analyst | Boston, MA , United States |
| Investment Analyst | NY , United States | |
C Chris Matteini | Analyst | Weston, MA , United States |
| Investment Analyst | Devon, PA , United States | |
| Investment Team - Trading and Portfolio Construction | Boston, MA , United States | |
| Investment Analyst | Boston, MA , United States | |
K Kyle A. | Senior Analyst | Philadelphia, PA , United States |
O Oliver Bardon | Risk and Portfolio Manager | Brookline, MA , United States |
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