While Cascade is overwhelmingly a direct investor, we do work with a small number of third-party managers who offer additional breadth and expertise in particular asset classes and who have discretion to make investments on behalf of the Gates Family and the Bill & Melinda Gates Foundation Trust. Cascade strongly supports its external managers’ efforts to increase diversity, equity, inclusion and access in the investment community and is committed to advancing these important causes.
Cascade Asset Management Company oversees Cascade Investment, L.L.C., which holds personal assets of Bill Gates, as well as the Bill & Melinda Gates Foundation Trust, which holds the assets that support the charitable activities of the Bill & Melinda Gates Foundation. This organizational structure allows the foundation to separate its programmatic work from the investments held by the Trust. The foundation has no influence on Trust investment decisions, and no visibility into the Trust’s investment strategies.
Cascade takes a stewardship approach, applying a fundamental, long-horizon investment philosophy across asset classes and geographies to ensure that the Bill & Melinda Gates Foundation and the Gates Family have all of the necessary resources to help achieve their philanthropic and personal goals.