Jane Dietze, Joshua Kennedy, Peter Levine
Jane Dietze, CIO of the Brown University investment office, will depart the $8 billion endowment in 2027 to become the inaugural CIO of the Fund for Science and Technology, the university announced Tuesday.
Two senior professionals within the investment office—both Brown alumni—will be promoted as part of a leadership transition in December: Joshua Kennedy, the fund’s deputy CIO, will be promoted to CIO, and Peter Levine, a managing director for the investment office, will become deputy CIO.
Dietze joined Brown’s investment office in 2013 and has served as CIO since 2018. Kennedy and Levine joined in 2016 and 2018, respectively.
Dietze’s tenure at Brown coincided with a rapid growth in the size of the university’s endowment: Over the last 10 years, the endowment has grown to $8 billion from $3.2 billion, with performance in the top 5% of endowments, according to investment consultant Cambridge Associates.
As of December 31, 2025, the endowment reported a 10-year historical average asset allocation of 36% to private equity; 28% to absolute return strategies; 17% to public equity; 10% across credit, fixed income, cash and hedges; and 9% to real assets.
“I have been part of this community for 13 years, and it has been the privilege of my lifetime to serve as chief investment officer for the past eight of them,” Dietze said in a statement. “None of what we have accomplished could have been achieved without the talent and dedication of our incredible team of investment professionals, trust and guidance from our investment committee, support from our alumni community, and partnerships with our exceptional investment managers.”
Dietze will join the Fund for Science and Technology in January after finishing 2026 at Brown, the fund announced Tuesday. Launched by the late Microsoft co-founder Paul Allen’s estate in 2025 with $3.1 billion in assets, the fund aims to sponsor science and technology that support the advancement of bioscience, responsible artificial intelligence and solutions for the environment.
As CIO at the fund, “Dietze will work closely with foundation leaders and its board of directors to guide investment strategy and ensure that the portfolio remains aligned with the foundation’s objectives and values,” the fund stated.
“Jane leaves Brown with a remarkable legacy of achievement,” Brown President Christina Paxson said in a statement. “The exceptional performance of our endowment has expanded our ability to invest in people and priorities across the Brown campus, and she has built an incredibly strong and deep investment team. In welcoming Josh and Peter to their new roles, we’re fortunate for the leadership of two accomplished Brown alumni who are well positioned to build even further upon the growth we have seen over the last decade.”
Kennedy, the office’s new CIO, had previously been a managing partner in and portfolio manager at Boston-based hedge fund Sonian Capital Management. He was also an equity analyst and portfolio manager at Liberty Square Asset Management. A Brown alumnus, Kennedy earned a bachelor of arts degree in religious studies, as well as an MBA in finance from the Stern School of Business at New York University.
Newly appointed Deputy CIO Levine was previously co-founder and CEO of Shepherd Capital Management, which focused on distressed investments in the corporate aircraft market. He was also a portfolio manager at New Holland Capital. Another Brown alumnus, Levine earned a bachelor’s degree in European history.
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Tags: Brown University, Endowments