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Mott Foundation Adds Hedge Fund Manager

The investment office at the Charles Stewart Mott Foundation has added Kenneth Austin as a new investment manager to focus on hedge funds, the organization said recently.

Austin joins the Flint, Mich.-based Mott Foundation from Indus Capital Partners, where he served as a senior analyst focused on “companies in the United Kingdom and other western European countries,” the Oct. 18 announcement highlighted.

The alumnus of both Western Michigan University and Columbia Business School has also spent time as a senior financial analyst at Capital One Financial and maintained partner duties at Millgate Capital.

Michael Smith, the foundation’s VP for investments and CIO, said that the investment office was “pleased to add an analyst of Ken’s experience and expertise.”

“His knowledge of and familiarity with various financial sectors overseas, as well as in the U.S. should provide us with a more global perspective,” Smith said.

The Foundations’ 2010 Annual Report noted that the portfolio maintained target asset allocations of 50.6% to domestic stock, 30% to debt securities, 16.9% to international stock and 2.5% to real estate.

At 2011’s year-end, the Foundation concluded the period with about $2.13 billion in assets. The 86-year-old organization was founded by Charles Stewart Mott, an original partner in General Motors Corporation, because he was concerned “about the welfare of Flint, Michigan” and other surrounding areas, its website stated.

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