Walmart Heir's Family Office Promotes Noelle Laing to Chief Investment Officer to Drive Impact Investing

Lukas Walton, a billionaire who inherited his wealth from the Walmart empire, has elevated Noelle Laing to the position of Chief Investment Officer (CIO) at his family office, Builders Vision. This appointment underscores Walton’s commitment to addressing global challenges through strategic investments. Builders Vision, based in Chicago, focuses on three key areas: clean energy, food sustainability, and ocean health. Noelle Laing's journey to this leadership role began 12 years ago when she worked with Walton at Cambridge Associates, a respected investment advisory firm. In 2019, she joined Builders Vision and, in 2022, became the CIO of its philanthropic arm, Builders Initiative. During her tenure, Laing successfully shifted 90% of the $1.7 billion endowment to mission-aligned investments, which are designed to support social and environmental causes. Her efforts included leading a team that invested over $300 million in early-stage startups and fund managers. In her expanded role, Laing will oversee family trusts and the asset management arm, Builders Asset Management, which manages a multibillion-dollar taxable portfolio. She will also consolidate the investment teams from both the philanthropy and asset management divisions and plans to expand the team, bringing the total number of investors to nearly 30. Walton expressed confidence in Laing’s abilities, stating that increased coordination and shared vision will enhance their effectiveness in achieving their goals. The scale and structure of Builders Vision reflect a trend among family offices that operate like institutional investors, leveraging various tools to address their core missions. Laing emphasized the firm's versatility, noting that they can invest in nonprofits, early-stage startups, and larger co-investments and allocations. Recent examples include backing Norway's Bluefront Equity, a sustainable seafood fund, and co-guaranteeing $70 million of debt for the Bahamas, which helped the government save on borrowing costs and allocate funds to marine conservation. Laing’s appointment is significant in the context of a growing number of women in key investment roles within family offices. She joins peers such as Erin Harkless Moore of Melinda French Gates' Pivotal Ventures, Margo Doyle of S-Cubed Capital, and Rebecca Carland, formerly of Builders Asset Management and now with the Knight Foundation. These women share backgrounds in investment advisory, particularly at Cambridge Associates, known for its expertise in managing wealth for families, endowments, and foundations. Laing credited her experience at Cambridge Associates for providing valuable resources and diverse perspectives, which she believes are essential for the success ofBuilders Vision's focused and impactful investment strategies. Builders Vision’s approach to impact investing is notable for its comprehensive strategy, combining direct philanthropic contributions with financial investments. The firm's recent spin-off of S2G Investments, a $2.5 billion venture capital fund, further highlights its commitment to fostering innovation and sustainability across multiple sectors. Laing's leadership is expected to continue to drive the firm's growth and influence, making it a significant player in the realm of socially responsible investing. Industry insiders view Laing's promotion as a strategic move that aligns with the evolving landscape of family offices. Her track record in shifting substantial investments toward mission-driven initiatives demonstrates a strong capability to blend financial returns with positive societal impact. The growing presence of women in these high-level positions also signals a broader shift towards more inclusive and diverse leadership in finance, which industry experts believe can bring fresh perspectives and innovative approaches to investment strategies. Builders Vision, known for its robust and multifaceted approach to addressing global issues, is poised to benefit from Laing’s leadership and the firm's unique blend of philanthropy and investment.