MacArthur Foundation RE head to depart – exclusive

Timothy Hoeppner is vacating his post after 23 years at one of the largest US foundations.

Timothy Hoeppner, managing director of real estate and energy at the John D. and Catherine T. MacArthur Foundation, is making his exit after more than two decades at the organization.

In a note to colleagues last week, and seen by PERE, MacArthur Foundation chief investment officer Susan Manske said that Hoeppner would be leaving the organization at the end of the month. He will be pursuing other opportunities, she said, but Manske did not elaborate. 

She did not provide any details on Hoeppner's replacement, but instructed contacts to reach out to her or real estate manager Sharon Nikonchuk in his absence.  

“He has been a valuable member of the foundation’s investment department for 23 years,” she wrote. “He helped lead the successful effort to sell almost $1 billion in real estate assets that the foundation received from John MacArthur that helped the foundation develop a more diversified portfolio. Tim was then instrumental in building an institutional real estate portfolio and our private energy portfolio.”

Hoeppner joined the foundation in 1993 as an investment associate. In addition to the disposition of the $1 billion property portfolio, he also was responsible for establishing a $700 million real estate portfolio, a $350 million private energy and commodities portfolio and a $100 million timber portfolio – all of which comprised commingled fund investments. The real estate portfolio currently is approximately 54 percent allocated to the US, 20 percent in international developed markets, including Western Europe and Japan; and 26 percent in international emerging markets such as Brazil, India, China and South Africa.

Prior to joining the MacArthur Foundation, Hoeppner worked for eight years at Dallas-based real estate developer Trammel Crow Company, in the positions of regional controller, regional vice president of finance and senior asset manager. He began his career in the audit department of Price Waterhouse.

Infamously, Hoeppner was charged in 2008 with a misdemeanor of unauthorized videotaping after he was caught by a plainclothes officer taking photos under women’s skirts at July 4 festivities in the Chicago suburb of Arlington Heights.

MacArthur Foundation is the tenth largest US foundation by assets, according to the Foundation Center. The foundation’s assets totaled $6.47 billion, and its investment portfolio had a return of 6.97 percent net of investment management costs as of December 31, 2014, the most recent year that data was available.

A spokesman for the foundation declined to comment on Hoeppner's impending departure.