Investment Committee - Investments - Learn About BTCF - Berkshire Taconic Community Foundation

Investment Committee

The Investment Committee is a team of professionals with extensive  experience in institutional investments, who together provide a broad range of expertise in different asset classes. Appointed by the foundation's board of directors from its members and others in the community, they meet at least quarterly to review performance, rebalance the porfolio, meet with current and prospective managers, discuss market conditions and long-term strategy, and establish overall manager-specific benchmarks. 

The Investment Committee is supported and advised by the investment consulting firm of Prime, Buchholz and Associates, Inc. of Portsmouth, N.H., and the foundation's Vice President for Finance and Administration. 

Board Members

Thomas Quinn is an investment adviser with over 30 years of experience in banking, investment management and commercial property. He is the former global head of Real Estate Investment Management (REIM) of UBS Wealth Management and Business Banking, a position he held from 2004 to 2009. Prior to joining UBS in April 2004, Mr. Quinn founded and managed TS Quinn Associates, LLC, a real estate investment management firm. Before that, he spent 23 years at JP Morgan where he held various senior management positions. From 1994 to 2001, Mr. Quinn was responsible for JP Morgan's proprietary private equity investments in the real estate sector. He previously had a broad range of assignments in corporate finance and investment banking, including positions in New York, Mexico City and London. Mr. Quinn is a former director of Alpha Investment Partners Limited, a real estate investment management firm in Singapore, a trustee of the Hotchkiss School and a former member of the National Real Estate Advisory Board of the Nature Conservancy. He is a graduate of Dartmouth College (BA) and Middlebury College (MA).

Thaddeus Gray is a Managing Director of Abbott Capital Management, LLC, a New York-based investment advisor focused exclusively on private equity. In this role, Mr. Gray serves as the Chief Investment Officer and as a member of Abbott’s Executive Committee. He manages the staff responsible for screening, due diligence, selection, closing, monitoring and reporting on investments in private equity limited partnerships on behalf of institutional clients. Total assets under Abbott Capital’s management are approximately $7 billion, with investments focused on venture capital, growth equity, leveraged buyouts and special situations. Prior to his current position, Mr. Gray worked as Syndicate Manager/Assistant Vice President for Commerzbank Capital Markets Corporation and as an Analyst in the Corporate Finance Department for Credit Commercial de France in Paris. Mr. Gray has served on the Sharon Association board and was co-chairman of the Security and Street Life Committee for Community Board 8 in Manhattan. Mr. Gray, a native of Litchfield County, is a graduate of University of Pennsylvania and New York University Graduate School of Business Administration.

Elizabeth Hilpman joined Barlow Partners in January 2001 as Chief Investment Officer and a partner of the firm. During her career Ms. Hilpman has been at the forefront of investing in alternative investment strategies. For nine years she was at Commonfund serving in the final years as Vice President, Investments with co-responsibility for hedge fund investments. It was in 1991 when the predecessor of Barlow Partners was a manager for Commonfund that Mr. Hambrecht and Ms. Hilpman first met. In 1994, Ms. Hilpman joined Dubin & Swieca as Director of Alternative Manager Research. Subsequently, she returned to the endowment community as an Investment Officer at Dartmouth College.

Following 2½ years at Dartmouth, Ms. Hilpman joined Global Asset Management in 1998 as a portfolio manager with responsibility for the U.S. component of GAM Diversity, a $1.1 billion fund-of-funds. She also had responsibility for the management of a $250 million multi-strategy U.S. fund-of-funds as well as GAM’s $50 million technology fund-of-funds.

Ms. Hilpman graduated with a B.A. from the University of New Hampshire in 1981. She is a frequent speaker at hedge fund conferences on the subjects of asset allocation, manager selection and monitoring. Ms. Hilpman serves on the investment committees of the University of New Hampshire Foundation, the Maine Community Foundation and the Cary Institute.

Kelly Morgan is a managing director at Boston-based investment firm Prio Wealth and a skilled portfolio manager with three decades of experience in investments. Kelly joined the firm in 2008 after 11 years with Putnam Investments, where she ultimately served as a chief investment officer for all retail and institutional U.S. large cap growth portfolios. Prior to Putnam, Kelly spent 10 years at Alliance Capital Management in New York and London. Throughout her career, she has managed assets for foundations and endowments large and small, for schools, churches, land conservancies, and health care nonprofits and hospitals. Kelly received her undergraduate degree in mathematics from Middlebury College and her M.B.A. from Harvard Business School. Active with Big Sister Association of Greater Boston for nine years, she lives part-time on a working farm in Pine Plains, N.Y.

Community Advisors

Community advisors with specific investment experience are elected for three-year terms to bring additional expertise to the Investment Committee.

Ann Goodbody retired from Citibank, N.A. in 2002, after spending 32 years there in various positions in the insurance and real estate divisions of corporate banking. In 1995, she became head of Capital Management for the holding company, Citicorp and its subsidiaries, and in that capacity had oversight for its capital adequacy, its debt and equity issues and its acquisitions and divestitures. She also became a member of the Market Risk Policy Committee, providing oversight for liquidity and market risk positions in North America. She was appointed an Executive Vice President in 1997 and became the Chairman of Credit Policy, responsible for the policies and procedures governing global corporate and consumer credit activities. Subsequent to the merger which created Citigroup, she became the head of credit risk management for Citibank in the 80 countries in the Emerging Markets where the bank had a presence. Ms. Goodbody graduated from Fordham University in 1968 with a B.S. in Economics. After a brief time on Wall Street, she joined Citibank, N.A., then named First National City Bank, and became part of the early cadre of women pursuing careers in banking and finance. She was the first woman to be appointed to the chief credit officer position of a major banking institution.

Elizabeth Hewitt joined the Alfred P. Sloan Foundation in 2015 as chief investment officer and senior vice president. She is responsible for managing the foundation’s endowment, including asset allocation strategy, fund manager selection, risk analysis, portfolio performance evaluation and liquidity management. Prior to joining the foundation, she was managing director of public investments at the Robert Wood Johnson Foundation where she selected and monitored investments with managers, helped set asset allocation policy and contributed to overall portfolio management. Earlier in her career, she was a senior vice president for Lazard Asset Management, a hedge fund analyst for The Torrey Funds and a wealth management associate for the U.S. Trust Corporation. She holds a B.A. and an M.A. from the University of St. Andrews, Scotland. She was a member of the Board of Directors for The Madeira School in McLean, Va., where she chaired the Investment Committee from 2010 to 2018. She has a residence in northeast Dutchess County.


Daphne Richards is Managing Partner at Anson Way Advisors with over 21 years of direct hedge fund experience. Previously, Ms. Richards worked at Bessemer Trust Company, New York, from 1999-2014.  While at the firm, Ms. Richards was a Managing Director, Head of Hedge Fund Investments and Co-Head of Bessemer’s $5 billion Alternative Investment Group. She was a member of the Investment Committees for Bessemer's investment programs in private equity/venture capital, real estate/real assets programs, and chaired the hedge fund investment committee.  She also served as a member of Bessemer’s Investment Policy and Strategy Committee.  Prior, Ms. Richards served as a Senior Investment Strategist for three years at the Frank Russell Company, providing overall asset allocation and investment recommendations.  Prior to that, she was a Credit Officer at Union Bank of Switzerland in New York.  Prior to UBS, Ms. Richards was at Credit Suisse in the Mid-Atlantic Corporate Lending Group and completed the Credit Suisse International Banking School's Corporate Finance and Capital Markets training program. Ms. Richards is a member of “100 Women in Hedge Funds” Global Association Board and Chairs the organization's Advisory Council.  She is also an Independent Director of Cartica Management.  She is also a member the Executive Board of the Greenwich International Film Festival. Ms. Richards holds a B.A. in English Literature from Georgetown University and resides in New York City and Stanfordville, NY.