Monica Lai (Art by Dadu Shin)
The Alfred P. Sloan Foundation has poached Monica Lai
Lai, who has spent more than six years at the pharmaceutical
giant’s $13 billion US pension plan, has been named senior investment director,
the foundation confirmed. Her first day was June 20.
In her new role, Lai reports directly to CIO Elizabeth
Hewitt, who joined the $1.8 billion fund from the Robert Wood Johnson
Foundation last October.
As part of a four-person investment team, Lai will have
responsibility over “all aspects of endowment management,” the New York-based
foundation’s spokesperson told CIO.
She will focus on asset allocation, risk assessment and mitigation, and manager
selection and oversight, as well as portfolio performance analysis.
At Pfizer, the Forty Under
Forty alum most recently served as director of pension investments in
charge of leading the team and broad portfolio activities. Previously, she was
head of Pfizer’s alternatives portfolio consisting of hedge funds, private
equity and debt, and real estate.
Lai also spent time at private equity firms Quadrangle
Group and Harvest Partners. She holds a bachelor’s degree from Stanford University
and an MBA from Dartmouth College.
Lai’s move is the second personnel change for the Sloan
Foundation so far in 2016. In March, former Managing Director of Investments
Michael Stambaugh left to lead the $820 million Carnegie Institution for Science.
Under Forty: Monica Lai & Robert
Wood Johnson MD to Lead Sloan Foundation