Children's Healthcare of Atlanta (CHoA)

Children's Healthcare of Atlanta (CHoA)

Children's Healthcare of Atlanta (CHoA) is a nonprofit pediatric health system whose investment office manages a long-term portfolio reported at $6.4 billion. The entity traces its roots to the 1998 merger of Egleston Children's Health Care System and Scottish Rite Medical Center, creating a single pediatric network across metropolitan Atlanta. Major donors include Arthur M. Blank, co-founder of The Home Depot, whose foundation contributed $200 million to the system's new hospital that now bears his name. The CIO, Muthu Muthiah, leads the investment function, with Mike Negussie serving as Investment Director with a focus on life sciences and global public equity. The investment strategy spans public equities, private equity buyouts, real estate, and venture-stage life sciences. The office takes a direct, active posture — confirmed real estate holdings include the flagship Arthur M. Blank Hospital on North Druid Hills Road, the Scottish Rite and Egleston campuses, a behavioral health center, and an industrial warehouse in Decatur. The team also invests in private healthcare and life sciences companies. The investment committee includes Kenneth Saffold, a director at BlackRock, alongside Paul Brown, CEO of Inspire Brands, who chairs the board of trustees. CHoA's investment office operates alongside a dedicated foundation, the Children's Healthcare of Atlanta Foundation, Inc., which channels philanthropic capital into the system. The physical plant spans seven named properties across Atlanta, Kennesaw, and Decatur. In 2024, the system opened the $1.5 billion Arthur M. Blank Hospital, replacing the aging Egleston facility and consolidating specialty pediatric services under one roof — an event that reshapes the capital deployment priorities for the investment team. The Ryan Seacrest Foundation also maintains a Seacrest Studios broadcast center within the Blank Hospital, giving patients media production capabilities. What distinguishes CHoA's capital structure is the tight integration of a large, internally managed investment pool with an operating healthcare system. Unlike a university endowment or private foundation, the investment office must balance liquidity demands of a Level 1 pediatric trauma center with the long-duration private investments typical of a perpetual portfolio. Governance flows through a board chaired by an active restaurant group CEO, with an investment committee that draws directly from institutional asset management — a configuration uncommon among stand-alone children's hospitals.