By Muskan Arora
The $2.6B John S. and James L. Knight
Foundation named Rebecca Carland as CIO, in an announcement on Monday.
As the CIO of the foundation, Carland will oversee the efforts to optimize long-term growth and sustainability. She will report to Maribel Perez Wadsworth, president and CEO at the foundation.
"This shift reflects decisions made through the ongoing governance of our investment function, ultimately leading us to return to an internal team model. Bringing investment management in-house allows for closer integration with Knight’s strategic priorities and greater alignment across the organization," said a spokesperson at the foundation.
“It’s an exciting time to advance the foundation’s legacy of thoughtful stewardship. I look forward to working with the team to continue supporting Knight Foundation’s impact,” said Carland, in the press release.
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Currently, she is working as a senior advisor at Builders Vision where she has also held the role of CIO for over three years.
With a deep background in investment
management, she has held multiple advisory and senior investment roles at Goldman
Sachs, Cambridge Associates and Walton Enterprises.
“Building an in-house investment team
allows us to manage our assets with greater strategic flexibility, ensuring
that we continue to support Knight’s mission in perpetuity,” said Maribel
Pérez Wadsworth, president and CEO of Knight Foundation.
Along with Carland, the foundation also
appointed Shanna Charles as director of investment operations. She also brings a
strong background in investment management in private family wealth offices.
In March, the foundation also announced the
appointment of Kevin Stephenson to its board of trustees. While working at
Cambridge Associates, Stephenson also served as an outsourced CIO for the
foundation between 2005 and 2019.
The foundation provides grants to support journalism,
arts and culture, and approved 315 grants amounting to $195m in 2023.
