# Commonwealth Fund

Commonwealth Fund is an Endowment / Foundation based in New York, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 1 East 75th Street, New York, NY 10021
- **Founded:** 1918
- **Assets under management:** 855 (Altss estimate)
- **Website:** commonwealthfund.org
- **LinkedIn:** https://www.linkedin.com/company/the-commonwealth-fund

## Regulatory record

- **Reports private funds:** No

## About

The Commonwealth Fund was founded in 1918 by Anna M. Harkness. Her son Edward S. Harkness served as the first president. The endowment originated from Standard Oil interests and has supported independent research and grants aimed at improving health care access and quality for vulnerable populations. The foundation allocates across private equity, hedge funds, infrastructure and distressed strategies. It holds limited partner positions in vehicles including Aeolus Property Catastrophe Keystone, Ambienta III and Arete Fund II. Geographic exposure centers on North America and Europe. An outsourced chief investment officer structure manages the portfolio with explicit ESG screens and mission alignment. The organization employs 101 professionals at its New York headquarters. Cerity Partners has acted as outsourced chief investment officer since 2016. The foundation maintains memberships in Philanthropy New York and the Association of Black Foundation Executives. In June 2024 it released its International Health Policy Survey covering older adults in high-income countries. Governance separates the grant-making mandate from investment execution through an independent board and external OCIO. This structure allows the foundation to maintain its 1918 charter focus on health equity while delegating portfolio management to specialized advisors.

## Sectors

- Healthcare Services

## People

- Joseph R. Betancourt — President
- Margaret A. Hamburg — Chairman of the Board
- Mitchell J. Blutt — Vice Chairman of the Board
- Lord Simon Stevens — Trustee

## Questions

### Who runs investment decisions at the Commonwealth Fund?

Cerity Partners serves as outsourced chief investment officer since 2016. The board, including Chairman Margaret A. Hamburg and Vice Chairman Mitchell J. Blutt, provides oversight.

### Does the Commonwealth Fund participate in fund commitments or only direct deals?

The foundation acts as a limited partner in external funds. Confirmed holdings include Aeolus Property Catastrophe Keystone and Ambienta III.

### How is the Commonwealth Fund related to the Harkness family?

Anna M. Harkness founded the organization. Edward S. Harkness, her son, served as its first president.

### What investment stages does the Commonwealth Fund typically target?

The endowment supports allocations to buyout, venture, distressed debt and secondaries strategies through external managers.

### What is the Commonwealth Fund's known posture on co-investments alongside external GPs?

The foundation invests primarily through fund commitments rather than direct co-investments.

## Related profiles

- [Fondo Arco](https://altss.com/profile/fondo-arco)
- [Incubate Fund](https://altss.com/profile/incubate-fund)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/commonwealth-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology