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Mother Cabrini Health Foundation
Mother Cabrini Health Foundation was established in 2018 by New York State's Catholic bishops after the Fidelis Care transaction. Its mandate centers on...
Mother Cabrini Health Foundation
Mother Cabrini Health Foundation was established in 2018 by New York State's Catholic bishops after the Fidelis Care transaction. Its mandate centers on healthcare access and outcomes for vulnerable populations across the state. The foundation allocates roughly 28 percent of assets to private equity. Confirmed holdings include commitments to Limerston Capital Fund II in Western Europe and Bridgewater Pure Alpha Trading Company II Ltd on a global basis. It also maintains direct real estate exposure through the former Fidelis headquarters in Rego Park, Queens, and a leasehold at 777 Third Avenue in Manhattan. Capital is deployed via a mix of fund commitments, co-investments, and direct asset ownership. The organization employs BNY Mellon as investment advisor and custodian and SEI Novus for portfolio intelligence. It sponsored the Statewide Mental Health Summit in January 2025. Total grants awarded since inception exceed $1 billion, including a $51 million Nursing Initiative commitment announced for 2025. Governance rests with a board chaired by Alfred F. Kelly, Jr. and includes members drawn from finance and healthcare. This board structure separates investment oversight from the Catholic ethical principles that guide grant decisions.
General information
Firm type
Endowment / Foundation
Year founded
2018
Location
Region
North America
Country
United States
City
New York
Corporate office
777 Third Avenue 23rd Floor, New York, NY 10017, United States
Principals
Alfred F. Kelly, Jr.
Board Chair
Colin Ambrose
Chief Investment Officer
Carla A. Harris
Board Member
Samuel A. DiPiazza, Jr.
Board Member
Altss tracks 1 additional named team member for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
Who runs investment decisions at Mother Cabrini Health Foundation?
Colin Ambrose serves as Chief Investment Officer. He previously held the same role at UJA-Federation of New York. The board, chaired by Alfred F. Kelly, Jr., provides oversight.
Does Mother Cabrini Health Foundation participate in fund commitments or only direct deals?
The foundation makes both fund commitments and direct investments. Holdings include Limerston Capital Fund II and Bridgewater Pure Alpha Trading Company II Ltd.
Where does the underlying wealth come from?
The foundation was seeded by proceeds from the 2018 sale of Fidelis Care, a health insurer previously owned by New York State's Catholic bishops.
What is Mother Cabrini Health Foundation's known posture on co-investments alongside external GPs?
The foundation maintains a co-investment program alongside its fund commitments. Its strategy list includes dedicated co-investment and co-investment multi-manager sleeves.
Does Mother Cabrini Health Foundation maintain philanthropic structures, and how are they separated?
Grantmaking occurs through the primary foundation entity. Investment management and real estate holdings sit in separate vehicles, including Rego Park LLC.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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