Management Company (HMC) has hired a new head of natural resources, filling
the position 11 months after it had been vacated.
The $37.6 billion endowment announced it has recruited Colin
Butterfield to advance its direct natural resources program. Butterfield joins
from Radar—a $2.2 billion Brazilian farmland investment management joint venture
between TIAA and Cosan—where he served as CEO.
“Colin brings substantial technical expertise in natural
resources, including deep insight into the operating and financial viability of
investment opportunities across the globe,” said René Canezin, head of public
markets, in a statement. “Natural resources investments have been a long-time
contributor to the overall endowment portfolio and we will look to Colin to
refine our strategy and to bring the best opportunities at scale to our portfolio.”
Butterfield will join the endowment in early October and
will report to Canezin. He replaces Alvaro
Aguirre-Simunovic who stepped down last September after 12 years with HMC.
Prior to Radar, Butterfield served as president of Cosan
Alimentos, a Brazil-based company that sells sugar products. He was also CIO of
real estate investment manager Bracor Investimentos Imobiliarios.
Butterfield also holds an MBA from Dartmouth’s Tuck School
of Business and a bachelor’s degree in manufacturing engineering from Boston
The news of Butterfield’s hire comes less than a month after
the endowment’s CEO
Stephen Blyth announced his immediate resignation for “personal reasons.”
Blyth had taken a medical leave since May.
The Ivy League endowment is currently managed by COO Robert Ettl,
who was tapped as interim CIO. HMC has hired executive recruiter David Barrett
Partners to search for Blyth’s permanent replacement.
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