Subject: Fund for CGI commitments
From: Amitabh Desai <[email-masked]>
To: Robert Harrison <[email-masked]>, Fred Poust <[email-masked]>, Ed Hughes <[email-masked]>
Cc: Bruce Lindsey <[email-masked]>, Laura Graham <[email-masked]>, Doug Band - PC <[email-masked]>, Justin Cooper - PC <[email-masked]>, John Podesta ([email-masked]) <[email-masked]>
Date: Wed, 27 Jun 2012 12:25:21 -0400

Fred,

Gary Hattem from Deutsche Bank said he may mention to you today his idea for joining with other philanthropists to create a standalone bank or fund (initially $20-50 million) that would finance goodworks globally including CGI commitments - both to support good works but also illuminate how the financial community can come together to find models on how to finance this kind of work at scale - especially at a time when they are being criticized. I defer to others but seems like a good idea as a way to perpetuate and enhance WJC's legacy - since financing for CGI commitments (and WJC's other good works) is a perpetual challenge. Obviously a lot of complexity around something like this but just flagging it for you. I told him WJC's name could not be affixed to it and that we couldn't help raise money for it since we have our hands full with CF endowment, etc. - and obviously that we'd have to figure out if and how we wanted to be involved in the governance of a new institution like this, if at all. He seems curious if he is able to put it together, would we be open to announcing it in September. Seems like something ideally suited for the 10 year milestone. I told him it would be good for a potential new institution like this to be open to considering CGI commitments as potential investment destinations. He said that's the point.

I defer to you folks, just passing it on and happy to discuss it anytime. Seems like a bigger and better and possibly more broadly supported version of the Innovation Fund that Ira is talking about via CHAI.

Sincerely,
Ami