News & Analysis

NY-based foundation seeks impact director

$1bn foundation has a $100m target allocation to social impact investing and hopes its new director ‘will increase Surdna’s finance and investment capacity’.

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The Surdna Foundation is in the market for a director of impact investing to lead its $100 million US-focused social impact investing allocation.

The $1 billion New York City-based family foundation invested in Impact America Fund’s $55 million second fund last year. In 2017, it announced a target allocation of $100 million – approximately 10% of its portfolio – to US-focused social impact investing.

The new director “will increase Surdna’s finance and investment capacity”, make investment recommendations to the investment committee and refine Surdna’s investment policy, according to the job description.

Surdna is offering a annual salary of $185,000. The new director will report to Surdna’s vice president of finance and administration, Marc de Venoge, and replace Shuaib Siddiqui, who left the role in June 2021.

The foundation also makes grants and has a 20.1 percent allocation to private equity investments, according to affiliate title Private Equity International’s database. It is headquartered in New York and was established in 1917 by John Emory Andrus.