Zuckerberg Money Adviser Said to Hire Stanford Endowment Managerby
Sarah Kim joins Iconiq in private markets, co-investments
Stanford departure latest since new investment chief's arrival
Iconiq Capital, which helps manage the fortunes of Silicon Valley billionaires, hired Sarah Kim from Stanford University’s $22.2 billion endowment, where she was a director of private equity and venture capital, according to a person with knowledge of the move.
Kim will focus on private markets, including making co-investments alongside private equity firms, according to her LinkedIn profile.
The San Francisco-based Iconiq, which is known for managing the personal fortunes of tech luminaries such as Facebook Inc. co-founder Mark Zuckerberg and Twitter Inc. co-founder Jack Dorsey, didn’t respond to a request for comment. Kim didn’t return calls seeking comment.
Kim, who worked at Stanford Management Co. for almost three years, leaves behind an endowment team that’s being overhauled by a new chief executive officer with links to Yale University. Since the university hired Robert Wallace as CEO a year ago, at least six senior employees from an investment team of 22 have departed, according to Charles Skorina, an executive recruiter in San Francisco.
At the same time, Stanford Management has hired at least three new top people including Greg Milani from Alta Advisers, Jay Kang from the Conrad N. Hilton Foundation and Mark Shoberg from the University of Texas Investment Management Co., according to its website.
Wallace, who ran London-based Alta Advisers after working at Yale’s investment office under David Swensen, didn’t respond to an e-mail seeking comment.