Hilton Foundation Deputies Named Co-CIOs

Yatin Patel and Michael Buchman have been leading the foundation since Randy Kim’s abrupt exit in May.

Hilton Buchman_Patel duoThe Conrad N. Hilton Foundation has named Michael Buchman and Yatin Patel as co-investment chiefs of the $5.6 billion fund.

Buchman and Patel had served on ex-CIO Randy Kim’s staff before he resigned earlier this year, with Buchman leading private equity and real assets while Patel headed public equities.

Following Kim’s abrupt exit, the pair was appointed to “co-manage the investment team and portfolio,” a fund spokesperson told CIO in May. Buchman and Patel’s promotion to co-CIOs is a continuation of that role.

“It is a privilege to announce the appointments of Michael Buchman and Yatin Patel as co-chief investment officers for the foundation,” said Peter Laugharn, president and CEO of the Hilton Foundation. “It is rare to have the advantage of two uniquely talented individuals working closely alongside one another to manage our investment portfolio and team.”

Buchman, who joined the foundation in 2009, previously held roles in finance and law, most recently working as an associate at real estate firm Broadway Partners. He holds an MBA and law degree from the University of Pennsylvania.

Patel came to the Hilton Foundation in 2008 from Barclays, where he served as a senior manager in corporate development. His previous roles include working as a mergers and acquisitions analyst at Lazard.  Patel holds an MBA from the UCLA Anderson School of Management.

Related: Hilton Foundation CIO Randy Kim Exits & Hilton Deputies to Split CIO Duties, No Search Planned