From Institutional Investor:
Allstate Alts Head Seeks Greener Pastures
Christopher Vogt, the head of alternatives for the $95.6 billion pension and insurance fund Allstate Investments has told friends and colleagues that he is leaving the fund to join the Margaret A. Cargill Philanthropies foundation, where he will serve as director of equities. Vogt will join Shawn Wischmeier, former CIO of the $72 billion North Carolina Retirement Systems, who was appointed CIO of Margret Cargill philanthropies. Vogt will report to Wischmeier.
Based in Eden Prairie, Minnesota, Margaret A. Cargill Philanthropies comprises three grant-making groups founded by the late Margret Cargill — Margaret A. Cargill Foundation, Anne Ray Charitable Trust and Akaloa Resource Foundation. The fund, whose asset base of around $6 billion makes it one of the largest foundations in the country, is now in the process of building its investment portfolio....MORE
We looked at the Philanthropies in early 2011:
Insta-Charity: $4Billion from Mosaic Deal Moves Margaret Cargill Foundation into Top 15 Philanthropies (MOS)
And again when the first tranche of the stock was liquidated:
UPDATED: Mosaic Announces Pricing of Secondary Offering, Susquehana Says "BUY", Charity Scores $4 Billion (MOS)
Here's the Chronicle of Philanthropy, Feb 2012:
Philanthropy 50
No. 1: Margaret A. Cargill
Amount donated in 2011: Approximately $6-billion
Beneficiaries: Anne Ray Charitable Trust and Margaret A. Cargill FoundationDonor’s background: Ms. Cargill was an heir to the Cargill Corporation fortune. The business was established by her grandfather, William Wallace Cargill, in 1865 and has grown to become one of the largest private companies, with interests in agricultural commodities, food production, and financial and industrial products and services.
Ms. Cargill, who was 85 when she died in 2006, left all of her shares
of Cargill stock to be split between the Anne Ray Charitable Trust and
the Margaret A. Cargill Foundation, in Eden Prairie, Minn. The amount
the two nonprofits are set to receive from the bequest totals roughly $6-billion, but the way the payout is structured is complex.Because Cargill remains a privately held company, officials at the foundation and the trust could not at first liquidate the private Cargill stock. But that changed last year when the conglomerate sold its 64-percent stake in a publicly traded business called the Mosaic Company. Once the company sold its stake in Mosaic, officials at the nonprofits were able to exchange the private Cargill stock for public Mosaic stock. Under this arrangement, the foundations ended up with about 114.5 million shares of Mosaic stock, which will eventually provide at least $6-billion to the trust and foundation....
