Johnson & Johnson

Investment decisions for the corporate pension are managed by an internal investment committee under the oversight of Chairman and CEO Joaquin Duato and EVP and CFO Joseph Wolk. The committee directs asset allocation, manager selection, and direct co-investment activity. Day-to-day portfolio management is executed by the internal treasury and pension investment staff.

Johnson & Johnson operates a corporate defined-benefit pension plan, not a single-family office. The plan's assets are derived from corporate operating earnings rather than a single family's liquid wealth. The Robert Wood Johnson Foundation, named for the founder, is a completely independent philanthropic entity and does not manage the pension's assets.

The pension fund allocates capital to both direct venture investments and fund commitments. Direct activity concentrates on early-stage healthcare, biotech, and medical device companies that align with the parent corporation's R&D expertise. Fund commitments extend the reach into broader venture and growth equity strategies.

Venture capital allocations focus on early-stage and growth-stage companies in therapeutics, medical technology, and digital health. The corporate venture group occasionally participates in Series A through pre-IPO rounds, leveraging Johnson & Johnson's internal scientific and regulatory resources as a strategic advantage in due diligence.

The Robert Wood Johnson Foundation was established by the company's founder but is an entirely independent philanthropic organization. It holds no ownership interest in Johnson & Johnson and does not influence the pension fund's investment decisions. The foundation focuses on public health and health equity grantmaking.