The MacArthur Foundation has named Bola Olusanya vice president and CIO, effective June 17. Olusanya will oversee the foundation’s nearly $9 billion endowment, with a target annual real return of 5%.
Olusanya will succeed Susan Manske, who announced her retirement in November 2024 after more than 21 years as CIO. When Manske joined the foundation in 2003, the endowment had approximately $3.7 billion in assets.
Olusanya will manage a 17-person investment staff, as well as the foundation’s asset allocation and investment strategy, primarily with outside investment managers. According to the announcement, he will also focus on working with investment managers committed to diversity, equity and inclusion.
Olusanya was most recently CIO of Washington, D.C.-based environmental nonprofit the Nature Conservancy, where he oversaw an investment portfolio of more than $4 billion. He also established the organization’s first internal investment team. Prior to that, he was at KeyBank, where he was manager director of manager research, asset allocation and portfolio strategy. Before joining KeyBank, Olusanya was managing director of public equity at Strategic Investment Group, and prior to that, he was managing director of investments at Vanderbilt University.
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“Olusanya has earned a reputation for delivering returns while applying strategic leadership, vision, and a commitment to advancing the mission,” MacArthur Foundation President John Palfrey said in a statement. “We are grateful he will fill this critical role and lead our skilled and accomplished Investments team.”
Olusanya earned an MBA in finance from Emory University in Georgia, a master’s degree in computer science from the University of Lagos, and a bachelor’s degree in computer science from the University of Ibadan in Nigeria. He is also a board member of the Investment Fund for Foundations and sits on investment committees at the Cleveland Foundation and United World Colleges.
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Tags: Bola Olusanya, Endowment, KeyBank, MacArthur Foundation, Susan Manske, The Nature Conservancy
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