Investment Office

The W.K. Kellogg Foundation Investment Office strives to generate outstanding investment returns to further the foundation’s commitment to ensuring children and working families thrive, and communities offer equitable opportunities.

“Our investment office is committed to building an extraordinary portfolio that’s managed by remarkable people, leveraging best-in-class technology and innovative practice to secure our mission for the next 100 years and beyond.”

Carlos Rangel

Chief Investment Officer, W.K. Kellogg Foundation

Investing on behalf of children

Inspired by the foundation’s mission, the Kellogg Foundation Investment Office (KFIO) manages the W.K. Kellogg Foundation Trust’s portfolio of investments and the W.K. Kellogg Foundation endowment. As of June 30, 2023, the combined endowments for the Trust and the foundation were valued at $8.8 billion. Our focus is providing the foundation with a steady and growing source of long-term revenue necessary to deliver on its mission.
Our team’s highly skilled, diverse investment professionals value inclusion, belonging and fair and equitable systems. These shared values and our commitment to the well-being of children motivate us to drive excess returns – because every dollar we generate is an additional dollar that goes toward helping children thrive.

Our Investments

Our portfolio is comprised of private investments, hedge funds, fixed-income and public equities. Each of our fund managers brings exceptional experience and a forward-thinking mindset to their decision-making. Working collaboratively, we balance our overall portfolio considering geography, time horizon, factors, sectors and asset classes.

As we continue to look for opportunities to grow the resources dedicated to ensuring all children can thrive, we seek partnerships with outstanding investment managers who share our passion for making the world a better place.

Diverse Managers

For WKKF, an investment firm is “diverse” when at least 20% of the firm is owned by people of color
(Black, Latinx, Asian or Native American) or women. If your firm meets these criteria, and you are interested in sharing more about your work, please complete our questionnaire.

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Advancing Racial Equity

Promoting racial equity, diversity, inclusion and belonging in the
investment industry

Our passion for harnessing capital markets to advance racial equity, diversity and inclusion (REDI) also has a positive impact on our investment returns. Teams that fully embrace REDI and diversity of thought, achieve greater investment outcomes. That’s why our office spearheads two key racial equity-focused projects:

Expanding Equity

A transformational program launched in 2019 called Expanding Equity offers tools, knowledge and human-centered approaches for cultivating a workplace that attracts, develops, retains and promotes diverse talent, while delivering benefits for the bottom line. The program has reached more than 100 companies with a combined 3.5 million employees, benefiting more than two million children.

Diverse Managers Program

We are proud of the Diverse Managers Program which invests in diverse firms and strategies, including firms where people of color and women have significant decision-making power. Overall, more than 35% of the U.S.-based assets in the Trust’s diversified portfolio are invested with firms that are majority-owned by people of color and women.

Why this Work Matters

Our investment strategy benefits families and communities in many transformative ways.

Addressing systemic underrepresentation. People of color and women are systemically underrepresented in senior decision-making positions in asset management.
Expanding investment opportunity. Strong returns are possible by investing in diverse managers due to:
- Leaning into diverse experiences. A commitment to investing in diverse managers can lead to differentiated views on existing opportunities and/or completely new opportunities.
  Unleashing untapped potential. The investment industry has structural inefficiency when it comes to accessing untapped and underutilized talent. People of color and women account for more than two-thirds of the U.S. population, yet investment firms that are majority-owned by people of color and women represent approximately 1.4% of assets under management in the investment industry.¹ Lack of representation of people of color and women is most acute at the senior levels of the financial services industry.²
- Changing narratives. Investing with a diverse group of managers who are more representative of U.S. demographics elevates role models for children and increases opportunities in the investment industry for future generations.

Helpful Resources