Peter Adamson from the Eli Broad philanthropic foundation just got the job of a lifetime: managing Oprah’s fortune.According to the Wall Street Journal, to nab him, Oprah had to poach him from the foundation and from Eli Broad, the billionaire whose fortune launched the foundation. (Apparently this is a hot trend lately.)
Adamson has been managing Broad’s $2.5 billion for nine years, but his fame as an investment has been rising recently.
Just a couple of days ago, on Monday evening, Adamson received an award from Institutional Investor for Large Foundation Manager of the Year. His record was earning 3% to 4% above the “appropriate indices” at the Broad Foundation, according to an email from the foundation discussing its results.
Oprah’s fortune is worth around $2.4 billion, which is right around the $2.5 billion Adamson is used to managing for the Broad Foundation and Eli Broad.
Apparently Oprah is also looking for a CIO and more to make up an investment team that will help her raise money for the Oprah Winfrey Network, her own channel, which she plans to launch in January. If you’re interested: Los Angeles-based Ziffren Brittenham LLP is doing the hiring of the CIO.
Oprah might want to check out one of the 20 hedge fund superstars hiding inside of JP Morgan –>