Welcoming Our New Chief Investment Officer

The Minneapolis Foundation welcomes Nate Wade as its new Chief Investment Officer, a role that will power the next chapter of the Foundation’s growth and deepen its commitment to realizing strong, vibrant communities.

Wade stepped into the role this week, bringing more than a decade of investment experience from the McKnight Foundation, where he helped steward its $2.7 billion endowment and build one of the country’s most respected impact investing programs. Wade joined McKnight in 2014 as an Investment Analyst and was promoted to Investment Officer in 2019. He played a key role in building McKnight’s direct private investment program, expanding into new asset classes, and integrating environmental, social, and governance (ESG) insights across the portfolio.

As Chief Investment Officer, Wade will lead strategic management of the Minneapolis Foundation’s investment portfolio, collaborating with senior leadership, external consultants, and the Investment Committee of the Foundation’s Board of Trustees. He will oversee asset allocation, manager selection, risk oversight, and performance management across multiple investment pools, including the diversified long-term portfolio that fuels the Foundation’s core programs and grantmaking initiatives. Wade will also steer the Foundation’s growing investment alliances and accelerate its expanding impact investing strategy.

“Nate brings the rare combination of rigorous investment expertise and a deep passion for social impact,” said R.T. Rybak, President and CEO of the Minneapolis Foundation. “He understands that every dollar we invest is an opportunity to strengthen our community.”

The creation of this new CIO role reflects the Foundation’s deepening commitment to several key initiatives:

• Supporting the GroundBreak Coalition, a bold, cross-sector effort of 40+ partners who are working to mobilize $5.4 billion over the next decade—reshaping how capital flows into communities.
• Expanding the Foundation’s Investment Alliances, which allow advisors to continue managing charitable assets for clients who establish funds at the Foundation.
• Scaling up the Foundation’s impact investments as fundholders seek new ways to align their philanthropy and investments for greater good.

The timing is pivotal. The Minneapolis Foundation manages more than 1,500 charitable funds and last year awarded nearly $129 million in grants—a record in its 110-year history that it broke again last month, with four months remaining in its current fiscal year.

“Nate knows how to navigate complex markets, but just as important, he knows how to align capital with purpose,” said former Foundation Board Chair John Taft, who worked with the Investment Committee to strategize Wade’s new role. “His arrival positions the Foundation to serve our fundholders with even greater excellence and innovation.”

Rybak and Taft thanked the Investment Committee members who helped guide the recruitment process that resulted in Wade’s hire, including Angie Gorder, Tim Palmer, and Mark Simenstad.

Wade will build on work begun by Karen Florez, the Minneapolis Foundation’s Senior Director of Investments, who is retiring at the end of December after 14 years at the Foundation.

“I’m honored to join an organization that believes so deeply in the power of community,” Wade said. “I’m excited to help the Minneapolis Foundation steward resources in a way that amplifies impact, expands opportunity, and supports the generosity of donors across our region.”

Wade holds an M.S. in Finance from Georgetown University and a B.S. in Mathematics and Economics from the University of Michigan.