Kevin Stephenson was elected to Knight Foundation’s board of trustees in 2025.

Stephenson is president of WIT, LLC, the investment team of Walton Enterprises. His team manages the Walton Family Foundation and other endowments.

Before founding WIT in 2019, Stephenson was a partner at Cambridge Associates, where he spent twenty-one years advising foundation and university endowments. As an outsourced chief investment officer (OCIO), he managed the portfolios of Knight Foundation (2005–19) and the University of Arkansas Foundation (2009–19). Under his leadership, Knight Foundation’s investments with diverse-owned managers grew to about one-third of total endowment assets.

At Cambridge Associates, Stephenson established and led the firm’s Mission-Related Investing Group in 2008. He managed numerous endowment and taxable portfolios and was twice nominated for Investment Consultant of the Year by Institutional Investor.

Before transitioning to investment management, Stephenson had a career in academia, serving as an economics professor at Middlebury College and a visiting or adjunct professor at Cornell University and Marymount University. He has taught undergraduate and MBA courses in investments, corporate finance and economics and has published multiple articles on investment strategy.

Stephenson holds a Ph.D. in economics from Cornell University and is a Chartered Financial Analyst (CFA). He currently serves on the board of directors of the University of Arkansas Foundation and sits on the investment committees of the Crystal Bridges Museum of American Art and African Parks Foundation, USA.