Peter G. Peterson was best known as an investment banker and chairman of the Council on Foreign Relations. In his rich financial career, he was the CEO of Bell & Howell and Lehman Brothers, later co-founding The Blackstone Group, where he served as co-chairman.
Through his investment career, Peterson was also a noted philanthropist. In 2008, he conceived the foundation with the goal of promoting fiscal responsibility. After his death in 2018, the foundation was led by his wife, Joan Ganz Cooney, and his son Michael Peterson.
In the latest 990 filing, the foundation reported $50.23 million in expenses, net assets of $1.08 billion, and negative net income of $5.61 million, while total revenue reached $44.62 million.
Other foundation revenue includes Joan Ganz Cooney $35 million contribution (an increase from $7.5 million from last year), $7.67 million from interest on savings ($1.72 million in 2024), and $1.44 million from dividends ($539 thousand in 2024).
Regarding capital gains and losses, the foundation reported $12.86 million from various K-1 partnerships, while other securities brought $6.63 million. Also, the sale of Garrison Real Estate Fund II generated $336 thousand in gains. Capital losses of $166 thousand were recorded from the sale of Aio IV Aiv Trust from Anchorage Capital Group.
Also see: Edward Mule Foundation Portfolio Centers on In-House Silver Point Capital Funds
Fund Investments
The foundation invested over $840 million in fiscal 2024, which is an increase from $778 million in the previous year. The list of investments shows high interest in venture capital, but the investment portfolio is diversified with private equity, real estate, and other types of alternative investment options. The final list of investments is:
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