Capital Allocators – Inside the Institutional Investment Industry Collette Chilton – Humility and Loyalty at Williams College (Capital Allocators, EP.174)
Jan 25, 2021
Collette Chilton, the CIO of Williams College, has been a formidable force in investment management since the early '90s. She shares her inspiring career journey, from pivotal roles in public and corporate pensions to overseeing a $3 billion portfolio at Williams. The conversation delves into the significance of strategic manager selection, the evolution of asset allocation, and the importance of collaboration with alumni. Collette emphasizes humility, the value of learning from mistakes, and balancing personal well-being in a high-stress industry.
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Williams' Portfolio
- Chilton found Williams' initial portfolio to be unique and strong due to alumni involvement.
- Alumni volunteers invested in funds they liked, resulting in early access to top-tier firms like CD&R and Madison Dearborn.
Significant Allocation
- When Chilton joined, Williams had over 30% of its endowment with one balanced manager, primarily in S&P 500 stocks.
- This large, liquid allocation proved crucial during the 2008 financial crisis.
Governance Structure
- Williams' governance structure leverages alumni advisory committees for investment insights.
- These committees provide unbiased opinions and due diligence support, proving invaluable for the small team.
