Future of the Endowment Conference IX

Program

8 a.m. | Registration and Continental Breakfast

8:30 a.m. | Welcome: Opening Remarks and Q&A

Amy C. Falls ’82, P’19, ’21
President, Board of Trustees, Phillips Academy
Vice President and Chief Investment Officer, Northwestern University

Raynard S. Kington, MD, PhD, P’24
Head of School, Phillips Academy

9:15 a.m. | Phillips Academy Endowment & Budget Overview

Fernando R. Alonso
Assistant Head of School for Operations & Finance, Chief Financial Officer,
Phillips Academy

Kirsten Glantz
Chief Investment Officer,
Phillips Academy

10 a.m. | Investor Perspectives: A Conversation

Mike Maples, Jr.
Co-Founder and Partner,
Floodgate

Nnamdi Okike ’98
Co-Founder and Managing Partner,
645 Ventures

10:45 a.m. | Break

11 a.m. | Future of the Endowment Discussion & Investor Roundtable

led by Amy C. Falls ’82, P’19, ’21

12 p.m. | Lunch and Discussion

12:45 p.m. | Concluding Remarks

Gil Caffray ’71, P’20
Charter Trustee and Investment
Committee Chair, Phillips Academy
Chairman, MPW Capital Advisors

Speaker Profiles

Fernando R. Alonso

Fernando “Ferd” Alonso, assistant head for operations and finance, is Phillips Academy’s CFO, and leads departments including facilities, technology, finance, investment, business and risk management, and human resources.

A native of Puerto Rico, Alonso attended Cornell University where he earned a degree in material science engineering before embarking on a career in education. Alonso joined Phillips Academy as director of (MS)² in 2005 after more than a decade of serving as math department chair, house counselor, coach, and dean at three other schools.

In 2010, former head of school Barbara Chase appointed him as director of Outreach and Summer Session, and in 2016, former head of school John Palfrey named him dean of administration and finance. Over his career at Andover, Alonso has also served as an instructor in mathematics, a house counselor, and complement. He serves on the United Educators risk management advisory council and is on the finance committee of Captivated Health.

Gil Caffray ’71, P’20

Gil Caffray is the chairman of MPW Capital Advisors, a licensed and regulated financial services firm providing an outsourced investor relations solution to the Middle East market.

Prior to joining MPW in 2019, Caffray was the chief investment officer of Tiger Management LLC. In this capacity, he oversaw Tiger’s portfolios and focused on attracting and developing investment talent. He began his Tiger career in 1993 as the firm’s global head trader and managing director. In 1995, he was named a senior managing director and member of its management committee.

Caffray co-founded FrontPoint Partners LLC in 2000, where he served as managing partner and co-portfolio manager of the FrontPoint Multi-Strategy Fund. FrontPoint was acquired by Morgan Stanley Investment Management (MSIM) in December 2006, and Caffray was named vice chairman of MSIM and a managing director of Morgan Stanley. Before rejoining Tiger in 2011, Caffray was CEO of Touradji Capital Management.

Earlier in his career, he served as a managing director at Weiss International Management and as a general partner at the NYSE specialist firm, Conklin, Cahill & Co. He is a graduate of Princeton University with an AB in economics and serves as a trustee of the Tiger Foundation and Phillips Academy, where he chairs the investment committee.

Amy C. Falls ’82, P’19, ’21

Amy Falls was appointed vice president and chief investment officer for Northwestern University in May 2021, managing the university’s $14 billion diversified portfolio. The endowment supports a wide range of university operations including undergraduate and graduate financial aid, university institutes and centers, faculty positions and department chairs, research, and athletics. Falls is responsible for about a quarter of the university’s annual revenue.

Falls came to Northwestern from Rockefeller University, a biomedical research institution in New York, where she had served as chief investment officer since 2011. Prior to that, she was the founding chief investment officer of Phillips Academy in Andover, Mass. In both roles, Falls attained top decile performance, including generating the second highest performance in 2020 among university endowments greater than $1 billion.

She received a BA in history from Georgetown University and an MA in public policy from the Kennedy School of Government at Harvard University. Falls currently serves on the boards of Harvard Management Corporation and The Ford Foundation and is the president of the Board of Trustees at Phillips Academy.

Falls and her husband, Hartley Rogers, live in Lake Forest, Ill., and have three daughters.

Kirsten Glantz

Kirsten Glantz is the chief investment officer for the $1.3 billion endowment of Phillips Academy, overseeing the investment team based in New York City. Before joining Andover, Glantz spent 10 years at GM Asset Management, where she was director of Absolute Return Strategies, managing a multi-billion dollar diversified portfolio of hedge fund investments on behalf of the company’s pension funds.

She had previous investment experience at Reservoir Capital Group, Brencourt Advisors, and HBK Investments, and was a financial analyst in the fixed income division at Goldman Sachs & Co.

Glantz earned an AB magna cum laude in economics from Harvard College (1994), and an MBA from Stanford Graduate School of Business (1998). A graduate of Phillips Exeter Academy, she credits that formative experience as instrumental to her personal growth and development and is passionate about the mission of independent schools. She also has served on the alumnae board and investment committee for The Chapin School in N.Y.C.

Raynard S. Kington, MD, PhD, P’24

Dr. Raynard S. Kington became the 16th head of school at Phillips Academy in Andover, Mass., in July 2020. Prior to Andover, he served for 10 years as president of Grinnell College (2010–2020) and is now president emeritus. He previously served in a range of positions at the National Institutes of Health (NIH), including principal deputy director and acting director, associate director of the Office of Behavioral and Social Sciences Research, and acting director of the National Institute on Alcohol Abuse and Alcoholism.

Before NIH, Dr. Kington was a division director at the Centers for Disease Control and Prevention and served as director of the National Health and Nutrition Examination Survey (NHANES). He has also been a senior scientist at the RAND Corporation and assistant professor of medicine at UCLA. He was elected to the Institute of Medicine (now the National Academy of Medicine) in 2006.

Dr. Kington attended the University of Michigan, where he earned a BS with distinction and an MD degree; he completed his residency in internal medicine at Michael Reese Medical Center in Chicago. He was a Robert Wood Johnson Clinical Scholar at the University of Pennsylvania, where he earned an MBA with distinction and a PhD with a concentration in health policy and economics at the Wharton School and was awarded a Fontaine Fellowship. Dr. Kington received his board certification in internal medicine, public health and preventive medicine, and geriatric medicine.

His research has focused on the social determinants of health and, more recently, on diversity in the scientific workforce. He currently serves on the boards of the National Opinion Research Center, Beth Israel Lahey Health, RAND, and The Pew Charitable Trusts.

Dr. Kington is married to Peter Daniolos, MD, a professor of child and adolescent psychiatry. They have two sons.

Thomas P. Lockerby

Thomas P. Lockerby is secretary of the Academy at Phillips Academy, where he leads advancement initiatives for the school. In addition, he sits on the Senior Administrative Council and staffs Andover’s Board of Trustee committees on governance and resources.

Lockerby has spent his entire career working in and consulting with charities. Prior to joining Andover, he was vice president for development at Boston College and directed its $1.5 billion comprehensive campaign.

Previously, Lockerby served as director of gift planning at Dartmouth College; relationship manager at Kaspick & Company; vice president at PG Calc Incorporated; director of development relations at Harvard Business School; and development officer in the Harvard University development office. Early in his career, he was research associate to Harvard Business School professor Michael E. Porter.

His nonprofit board service includes William James College, an independent graduate school of psychology in Newton, Mass. (current board member and chair of the governance committee); and Polaris, a Washington, D.C., organization fighting to eradicate human trafficking in the United States and abroad (former board member, chair, and treasurer).

Lockerby has also been a leader in professional practice organizations, including the Council for Advancement and Support of Education’s Independent School Leadership Group (current steering committee chair); the Partnership for Philanthropic Planning (former board member and chair); and the Planned Giving Group of New England (former board member and president).

Mike Maples, Jr.

Mike Maples, Jr. is a co-founder and partner at Floodgate. He has been on the Forbes Midas List since 2010 and was also named one of “8 Rising Stars” by Fortune magazine.

Before becoming a full-time investor, Maples was involved as a founder and operating executive at back-to-back startup IPOs, including Tivoli Systems (IPO TIVS, acquired by IBM) and Motive (IPO MOTV, acquired by Alcatel-Lucent).

Some of his investments include Twitter, Twitch.tv, ngmoco, Weebly, Chegg, Bazaarvoice, Spiceworks, Okta, and Demandforce.

Maples is known for coining the term “Thunder Lizards,” which is a metaphor derived from Godzilla that describes the tiny number of truly exceptional companies that are wildly disruptive capitalist mutations. Maples likes to think of himself as a hunter of the “atomic eggs” that beget these companies.

Nnamdi Okike ’98

Nnamdi Okike is a venture capitalist with a track record of investing in leading software companies, with over $9 billion of exit value. He is co-founder and managing partner of 645 Ventures, an early-stage venture capital firm that partners with exceptional founders who are building iconic companies.

645 invests at the Seed and Series A stage, and leverages its Voyager software platform to enable its Success team and Connected Network to help founders scale to the growth stage. Select portfolio companies that have reached the growth stage include Iterable, Goldbelly, Bespoke Post, Overtime, Resident, Eden Health, FiscalNote, and Squire.

645 Ventures has $200+ million in AUM and is backed by leading institutional investors, including university endowments, funds of funds, and pension funds. The firm has over 50 active companies in its portfolio in the areas of enterprise SaaS, infrastructure software, and consumer technology. 645 portfolio companies have been acquired by Google, Facebook, Expedia, and private equity firms.

Okike previously spent eight years at Insight Venture Partners, a $90 billion venture capital and private equity fund, where he invested in 18 companies and had nine exits. Exits included Mimecast (IPO; $5.5 billion market cap), Despegar (IPO, $900 million market cap), Folhamatic (acquired for $300 million), Hitwise (acquired for $240 million),

Simplifile (acquired for $335 million), and several others. Okike is a board member of the National Venture Capital Association, which unites the U.S. venture ecosystem to support the formation of high-growth companies. He serves alongside members from firms such as Benchmark Capital, Sequoia, a16z, and Accel.

Okike also serves on the boards of the New York Roadrunners, Mount Sinai Hospital, the Partnership Fund of New York City, the investment committee of Phillips Andover Academy, and Civics Unplugged. He received a BA, JD, and MBA, all with honors, from Harvard University.

Attendees