J. Tomilson Hill
James Tomilson "Tom" Hill III (born May 24, 1948) is an American billionaire hedge fund manager, the former president and CEO of Blackstone Alternative Asset Management (BAAM), Blackstone Group's hedge funds business.[2][3][4][5][6]
J. Tomilson Hill | |
---|---|
Born | James Tomilson Hill III 1948/1949 (age 71–72)[1] |
Nationality | American |
Education | The Buckley School Milton Academy |
Alma mater | Harvard College Harvard Business School |
Occupation | hedge fund manager |
Net worth | $1.24 billion (March 2017)[1] |
Spouse(s) | Janine W. Hill |
Children | 2 |
Early life and education
Hill was born in New York and attended The Buckley School and Milton Academy, where he was a varsity wrestler. Hill received his B.A., cum laude, from Harvard College, where he wrote for The Harvard Lampoon and studied history, literature, and Japanese studies. He received his M.B.A. from Harvard Business School.
Career
Hill started his career at First Boston in 1973, where he was one of the founding principals of its mergers and acquisitions department, and then moved to Smith Barney, where he served as the head of its mergers and acquisitions department. In 1982, he joined Lehman Brothers as a partner in its M&A department and later became head of M&A, head of Investment Banking and co-CEO.
In 1993 Hill joined Blackstone, where he served as co-head of the corporate mergers and acquisitions advisory group. In 2007, he became vice chairman of the firm. Since 2000, he has served as president and chief executive of Blackstone's hedge fund business, Blackstone Alternative Asset Management (BAAM), and has grown that business's assets under management from $1.3 billion in 2000 to $56 billion as of December 31, 2013.
BAAM is currently the world's largest discretionary allocator to hedge funds, with investors including mostly corporate and public pension funds, sovereign wealth funds and central banks. The business's growth from 2007 to 2013, at a time when the industry generally contracted substantially, was featured in a June 2013 Harvard Business Review case study. Hill has appeared at the 2014 Credit Suisse Financial Services Forum, the 2011 Milken Institute Global Conference, and the 2012 Bloomberg Hedge Fund Summit, among others. In 2014, Hill was inducted into Institutional Investor's Alpha's "Hedge Fund Hall of Fame".[7]
Philanthropy
Hill is the chairman of Lincoln Center Theater and has served as chairman of the Smithsonian's Hirshhorn Museum and Sculpture Garden. He serves on the board of directors of the Metropolitan Museum of Art, the Council on Foreign Relations, the Telluride Foundation, the Advantage Testing Foundation, and Our Lady Queen of Angels School, a Catholic school in East Harlem that is part of the Partnership for Inner-City Education school network.
In 2014, the Frick Collection presented "Renaissance and Baroque Bronzes from the Hill Collection", a group of thirty-three statuettes from Hill's personal collection that date from the mid-fifteenth to the eighteenth centuries. In 2017, Hill will opened the Hill Art Foundation a gallery on West 24th Street in Chelsea to exhibit his private collection to the public in 2019.[8][9]
Personal life
Hill lives in Manhattan with his wife, Saint Louis native Janine W. Hill, who serves as director of fellowship affairs and studies strategic planning at the Council on Foreign Relations.[10] They have two daughters: Margot Langdon Hill Kirby[11] and Astrid Hill Dattilo.[12]
In 2004, Hill sold Mark Rothko's No. 6 (Yellow, White, Blue Over Yellow on Gray) (1954) for $17.3 million at Sotheby's, a record for the artist.[13]
Further reading
- Institutional Investor's Alpha, September 2014: Hedge Fund Hall of Fame
- "The Mythic and Heroic, Just Inches Tall", The New York Times, January 2014
- DealBook, December 2013: A Second Act for a Top Wall Street Strategist
- Financial Times, November 2013: Bronze Meets Tin at the Frick Collection
- Metropolitan Museum of Art, January 2012: J. Tomilson Hill Elected Trustee of Metropolitan Museum
- Pensions & Investments, January 2011: A huge presence: Face to face with Blackstone's J. Tomilson Hill
References
- "J. Tomilson Hill". Forbes: The World's Billionaires. Retrieved 4 March 2017.
- "25 Highest-paid men - J. Tomilson Hill III (22) - FORTUNE".
- "J. Tomilson Hill - Council on Foreign Relations".
- "Sheikha Mozah Bint Nasser Al-Missned".
- "Blackstone biography". blackstone.com. Archived from the original on 28 July 2010. Retrieved 26 August 2018.
- "Advantage Testing Foundation Board of Trustees". advantagetesting.com. Archived from the original on 16 January 2013. Retrieved 26 August 2018.
- "Institutional Investor's Alpha Hedge Fund Hall of Fame Inducts Four New Members". marketwired.com. Retrieved 4 Feb 2017.
- "A Billionaire Is Opening a Private Art Museum in Manhattan" by Robin Pogrebin, The New York Times, July 28, 2016
- Wool, Christopher (6 March 2019). "Christopher Wool's paintings and photographs at the new Hill Art Foundation". New York Times. Retrieved 7 March 2019.
- Council on Foreign Relations: "Janine Hill" Archived 2014-11-01 at the Wayback Machine retrieved October 23, 2014
- "Margot Hill, Colin Kirby", The New York Times, August 18, 2013
- "Astrid Hill and Ryan Dattilo", The New York Times, April 14, 2013
- Carol Vogel (November 10, 2004), Contemporary Art Shows Its Strength in a $93 Million Sale New York Times.