position description...of bill and melinda gates and warren buffett. with a trust value of close to...

CONFIDENTIAL

POSITION DESCRIPTION

FOR THE POSITION OF

DIRECTOR, STRATEGIC INVESTMENT FUND

JUNE 2020

Much of this material contained herein is gained in confidence and as such should be regarded as confidential. Accordingly, it is understood that dissemination of this material should be limited to those individuals in your organization who are directly connected with this specific search or whom a reasonable person would agree have a need to know.

all liveshave equal value

2CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

CONFIDENTIAL POSITION DESCRIPTION

POSITION Director, Strategic Investment FundORGANIZATION Bill&MelindaGatesFoundationREPORTS TO CarolynAinslie,ChiefFinancialOfficerLOCATION Seattle,WAWEBSITE gatesfoundation.org

ORGANIZATIONAL OVERVIEW

Guidedbythebeliefthateverylifehasequalvalue,theBill&MelindaGatesFoundationworkstohelpallpeopleleadhealthy,productivelives.Indevelopingcountries,itfocusesonimprovingpeople’shealthandgivingthemthechancetoliftthemselvesoutofhungerandextremepoverty.IntheUnitedStates,itseekstoensurethatallpeople—especiallythosewiththefewestresources—haveaccesstotheopportunitiestheyneedtosucceedinschoolandlife.BasedinSeattle,Washington,thefoundationisledbyCEOMarkSuzmanandCo-chairWilliamH.GatesSr.,underthedirectionofBillandMelindaGatesandWarrenBuffett.

Withatrustvalueofcloseto$47billionandtotalgrantpaymentsofover$50billionsinceitsinception,including$6billionin2019,theGatesFoundationistheworld’slargestprivatefoundation.TheFoundationoperatesthroughsixkeydivisions:Gender Equality, GlobalDevelopment,GlobalHealth,GlobalGrowth&Opportunity,Global Policy&AdvocacyandtheUnitedStatesPrograms(focusingonUSeducationandpovertyreduction).

A SUMMARY OF THE STRATEGIC INVESTMENT FUND

In2009,theBill&MelindaGatesFoundationestablishedastrategicinvestmentfundwiththemandatetouseequity,debtandguaranteeinvestmenttoolstofurtherthephilanthropicgoalsoftheorganization.Thefundhasbecomealeader in the “impact investing” industry, successfully completing more than 80 investments across a variety ofsectorsandassetclasses.Investmentsaremadeinsupportofthecharitableimpactthesesoftheseprogramstrategyteams,whichemploytechnicalexpertsfromaroundtheworld.

Theypartnerwithentrepreneurs,companies,andotherorganizationstocreateincentivesthatharnessthepowerofprivateenterprisetocreatechangeforthosewhoneeditmost.Inconnectionwiththeseinvestments,companiesagreetousetheinvestmentproceedsinsupportofspecificfoundationprogrammaticstrategies.

Investmentsfromthefundarestructuredas“program-relatedinvestments,”whichisadefinedtermintheUSInternalRevenueCodethatgovernscharitableinvestmentsmadebyaprivatefoundation.

3CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

TYPES OF INVESTMENT

Direct Equity InvestmentsWhentheirstrategyaligns

withacompany’s,theyprovideequitytosupportthe

company’sgrowth.

Loans and CreditEnhancementsSIFprovideslow-interestloanstocompaniesandnonprofits—offeringthecapitalnecessarytoscalepromisingproductsandservicesthatliftpeopleoutofpoverty.

Fund InvestmentsTobuildaportfolioof

investments in sectors that servethosewhoneedit

most,thefoundationalsomakesinvestmentsthrough

intermediarieslikeinvestmentfunds.Theyactaslimited

partnersinthesefundswheretheirstrategiesalign.

Volume GuaranteesSIFencouragesincreasedproductionandreducedpricesfortheirtargetpopulationsbyprovidingsupplierswithvolumeguarantees.Thefoundation’sguaranteeofavolumeofsalesoveraspecifiedperiodallowssupplierstofocusoninvestinginproductionandreducingthecostofcriticalproducts,suchasvaccines,drugs,andcontraceptives,makingthemmoreavailableandaffordabletopeoplewiththegreatestneed.

4CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

REPRESENTATIVE PAST INVESTMENTS FROM THE FUND INCLUDE:

d $11 million Series A preferred equity investment in bKash, Ltd., the largest mobile payments platform inBangladeshservingmorethan35millioncustomers.Todate,almost fourmillionaccountsareregisteredtoactiveuserslivingunder$2/day;athirdofwhomarewomenlivingunder$2/day.

d $52millionSeriesBpreferredequityinvestmentinCureVacGmbH,aleadingmRNAbiotechnologycompanydevelopingvaccinesagainstcancerandinfectiousdisease.

d $10million Series E preferred equity investment in Halodoc, a leading Indonesian online-to-offline healthdeliveryplatformleveragingmobiletechnologytoimproveprimaryhealthcareoutcomes.

d $10millionseniorsecured loantoCivicBuilders,anon-profitcharterschool facilitiesdeveloper, tosupportexpansionofitsoperationsfromNewYork/NewJerseytoRhodeIsland.

d $120millionvolumeguaranteetoBayerAGandMerck&Co.Inc.,whichensuredamarketforthecompanies’implantablecontraceptiveproductsinexchangeforacommitmentbythedrugmanufacturerstoincreasetheirproductionandlowertheirpricesinthedevelopingworld.

d $5millioninvestmentinthepublicly-tradedequityofAnacorPharmaceuticals,Inc.,abiotechnologycompanywithanovelboron-chemistrydrugdevelopmentplatformthatwasacquiredbyPfizerInc.inJune2016.

5CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

d Lead partnership collaboratively with the leadership and program officers from the six divisions—GenderEquality, Global Development, Global Health, Global Growth & Opportunity, Global Policy & Advocacy, and theUnited States Programs, on identifying and securing the right kinds of investments to complement grant-making. This will also involve determining whether are recipients of investments are better-suited to begrantees.

d Leadateamofleadersinidentifying,evaluatinganddevelopingglobalinvestmentopportunitiesthatalignwiththeFoundation’smission,particularlyinthedevelopingworld.

d LeadtheInvestmentCommitteeinitsevaluationanddiscussionsaroundnewandexistinginvestments.

Financial Investing/Deal Structure

d Directly or through management of the team lead due diligence, deal structuring, and negotiation of terms sheets,purchaseandlendingagreementsandfinancingterms.

d Direct the execution of investment transactions; monitor and transparently assess the impact of those investments.

d Developandmanagerelationshipswithintermediariestogenerateincreaseddealflow.d Manage the preparation of written analyses and evaluations of investment opportunities for use by

senior managementandInvestmentCommitteemembers.d Lead reviews and assessment of risk.

Team Management/Cohesion

d Lead,manage,mentor andhirefortheStrategicInvestmentFundteam.d Participateininternalandexternalstakeholdermeetings.HelpconsulttothevariousGatesprogramsto

help themthinkthroughthebeststrategiesforimpact.d Leadbyexampletowardsimpactwithhighlevelsofhumility,outstandingintelligenceandacollaborativestyle

focusedonahighlydiverseandresults-driventeam.

ROLE SUMMARY

ReportingtotheChiefFinancialOfficer,theDirectorofStrategicInvestmentFund(SIF)leadsthefoundation’s$2billion+ investmentprogram,managestheteamof15andchairsthefund’sInvestmentCommittee.

RESPONSIBILITIES:

Strategic Leadership

6CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

d Strong Mission-Orientation: Priorexperiencewithinamission-relatedand/orimpactfundsectorcoupledwithapassionforsolvingglobalhealthissuesandchallenges,andideally,knowledgeand/ordirectexperienceinworkingonsolvinglowandmiddleincomepopulationissuessuchasinfectiousdisease(HIV,COVID-19,Malaria,Tuberculosis),economicinequity,andenvironmental.

d Investor Credibility With Direct Emerging Markets Experience: Anexperiencedinvestorwithademonstratedinvestmenttrackrecordofprogressivelyseniorleadershiproleswithinaprivateequity,ventureorimpactfundorsomeotherinvestmentvehiclesuchasacorporatefund,foundation,venturephilanthropy,privatelyheldfamilyofficeoranotherlargeglobalorganizationthatiscommittedtofundingresearchanddevelopment.Emergingmarketsinvestmentexperienceisamust.Thispersonwillhavehadbroadexposuretoanumberofinvestmentstructures,includingdebt,equity,structuredfinanceandgrantsandhaveservedonaninvestmentcommittee.Thepersonwillhaveorigination/sourcingprocess,duediligence,investmenttransactionsandthemanagementof investments experience and have a demonstrated facility with fundamentals of investing, includingmakinginvestmentsinpartnershipwithprivateand/orpubliccapital,corporations,venturephilanthropyandfoundations.

d Operations and People Management Experience: She/he/theywillofferademonstratedtrackrecordinspiring,motivatingandempoweringatalentedgroupofprofessionals.Incrediblytalentedanddynamic,theStrategicInvestment Fund team demonstrates a high level of collaboration and collegiality and prizes transparency,innovation,andinclusion.Thesuccessfulcandidatewillhaveevidencedevelopingtalent.

d Relevant Domain Industry Expertise: Industryexperienceandawell-developeddealsourcingnetworkwithinboththeoperatingandinvestingcommunitiesofoneoracombinationofsectorswheretheGatesFoundationmakesinvestmentssuchas:LifeSciences(Drugs/Vaccines/Devices/Diagnostics),DigitalHealthand/orFinance,Agriculture,Healthcare,MicrofinanceandEducation.

d Gravitas, Presence, and Emotional Intelligence: Must have demonstrated leadership with a history ofstrategic,operationalandrelationshipbuildingsuccesswithinacomplex,matrixedorganizationthatoperatesinpartnershipwithnumerouskeyconstituents,stakeholdersandpartners.Thispersonmusthavetherequisiteinfluentialandinterpersonalleadershipskills,includingpersonalcharismaandemotionalintelligenceinordertoserveasaninternalandexternalambassadorfortheGatesFoundationinordertoattract,develop,motivateandretainadiversegroupofprofessionals.

KEY SELECTION CRITERIA

7CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

d Anabidingcommitmenttodiversity,equity,andinclusioninallforms.d Specificdealexperienceinsub-SaharanAfrica,India,andEastAsiaisabigplus.d Non-profitexperienceisalsoastrongplus.d Aptitudeandexperienceinnavigatingstart-upandVCworld.d DeveloperofnetworksandresourcesinthetechnicalspacesinwhichtheFoundationworks.d Excellentcommunicationskills.d Numerateandkeenanalyticalsensed Willingnesstoworkinacomplexstructuretoachievemissiongoals.d Anabilitytodevelopaframeworktoanticipateandaccountforallkindsofrisk.d Intellectualcuriosityandacriticalthinker.d Calmunderpressured Strong sense of integrityd Abilityandtrackrecordtosaynoandwhy.d Abilityandtrackrecordtosayyesandtakerisksandwhy.d Willingnesstobepartofabroaderfinanceteam.d ConfidenceandgravitastoworkatalllevelswithintheFoundation.

ADDITIONAL QUALIFICATIONS

8CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

ANDREW C. WHEELERLEADMANAGINGDIRECTOR,EDUCATION,NONPROFIT,ARTS&CULTUREPRACTICES+1(212)656-3548Andrew.Wheeler@Divsearch.com

MOLLY ROBBMANAGINGDIRECTOR+1(860)878-9525robb@bioquestinc.com

SANDRA GOLDMANVICEPRESIDENTANDMANAGINGASSOCIATE+1(267)322-0883Sandra.Goldman@Divsearch.com

SEARCH TEAM

MICHAEL SARNOFFMANAGINGDIRECTORANDPRACTICELEADER,FINANCIALSERVICES+1(646)270-6970Michael.Sarnoff@Divsearch.com

NICOLE KAMALESONMANAGINGDIRECTOR,GLOBALPRACTICE+1(312)877-0830nkamaleson@koyapartners.com

ERIN KNEELEYRESEARCHASSOCIATE+1(215)656-3598Erin.Kneeley@Divsearch.com

LANE WATSONEXECUTIVEASSISTANT+1(310)746-7577Lane.Watson@Divsearch.com

9CONFIDENTIAL POSITION DESCRIPTIONBILL & MELINDA GATES FOUNDATION | DIRECTOR, STRATEGIC INVESTMENT FUNDPREPARED BY DIVERSIFIED SEARCH GROUP

The Bill & Melinda Gates Foundation is dedicated to the belief that all lives have equal value. We’re committed to creating a workplace where employees thrive both personally and professionally. We also believe our employees should reflect the rich diversity of the global populations we aim to serve—in race, gender, age, cultures and beliefs—and we support this diversity through all of our employment practices. All applicants and employees who are drawn to serve the mission of the Bill & Melinda Gates Foundation will enjoy equality of opportunity and fair treatment without regard to: Race; Color; Age; Religion; Pregnancy; Sex; Sexual Orientation; Disability; Gender Identity; Gender Expression; National Origin; Genetic Information; Veteran Status; Marital Status; Prior Protected Activity.

Applicants for this role will only be considered if they possess current US Work Authorization, and do not require employer-sponsored VISA support to begin or remain in this role.