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Annachiara Marcandalli
Managing Director, Endowment & Foundation Practice at Cambridge Associates


Annachiara is a Managing Director at Cambridge Associates and co-head of the Endowment & Foundation Practice in London. She joined the firm in 2000, and works with the key decision makers of a variety of institutional investors on critical strategic investment issues such as asset allocation strategy, manager selection, and investment program evaluation. Her clients’ assets range from $75m to $4bn.

During the last two decades, Annachiara has worked closely with several large UK and European Non Profit Institutions to help them develop their long-term investment strategy, define the roles and responsibilities of their governance structures as well as helping them invest their portfolios. She has extensive experience in working with institutions that retain large concentrations in donor stock. She formed part of a high level working group that developed the firm’s Risk Allocation Framework, which helps investors go beyond asset class label diversification to instead make choices on the basis of the role different kinds of investment play in the portfolio. Annachiara is part of Cambridge’s Mission Related Investment Group and is the lead investor for a number of institutions that are actively integrating ESG criteria into their portfolios.

Prior to joining Cambridge Associates, Annachiara was in the investment banking division of Lazard & Freres Italy. She also worked for Sunguard in London, specialising in risk management for complex portfolios.

Agenda Sessions

  • Impact investing – big business but does the reality match up to fund managers’ claims?