LOS ANGELES, July 27 /PRNewswire/ -- The Broad Foundations announced today that Marc A. Schwartz has been named chief investment officer of its $3 billion portfolio, working closely with founder Eli Broad. He will start Aug. 9.
Schwartz joins The Broad Foundations from Reservoir Capital Group, a more than $4.5 billion hybrid fund where he served for nine years as managing director, principal and vice president. Schwartz was a senior member of the Reservoir investment team and most recently was focused on private fund sponsorship and direct co-investments. Before joining Reservoir, Schwartz spent much of the previous decade working in senior positions at a global holding company and an international private equity firm.
"Marc's vast experience in hedge funds, private equity and other similar investments that are consistent with our portfolio makes him a perfect fit," said Broad. "I am impressed with Marc's intelligence, drive, instincts and investment success, and we are delighted that Marc will join our team."
Schwartz will work with Broad on the management of The Broad Foundations portfolio, as well as the Broad family's personal investments.
Schwartz graduated magna cum laude from Harvard College and then received his M.B.A. from the Stanford University Graduate School of Business. He and his family will relocate from New York City to Los Angeles.
The Broad Foundations were established by entrepreneur and philanthropist Eli Broad to advance entrepreneurship for the public good in education, science and the arts. The Broad Foundations include The Eli and Edythe Broad Foundation and The Broad Art Foundation. The Broad Foundations' Internet address is www.broadfoundation.org.
SOURCE The Broad Foundations