The New Venture Fund has tapped Westfuller Advisors and Bivium Capital Partners as joint outsourced cio service providers.
More than two-thirds of the wealthiest 25 private and 25 public college and university endowments, representing $587 billion in total assets, refused to participate in an assessment of the representation of women- and racial or ethnic minority-owned investment firms overseeing their endowments, according to new research.
Robert Manilla has served as v.p. and cio at the Kresge Foundation for the past 17 years, developing and implementing its investment strategy and managing its endowment, which has grown to $4.5 billion, while helping create its investment office.
The University of California is conducting further review of 18 firms after meeting with 100 diverse investment managers across public and private asset classes in the first half of 2022, according to a webcast of its May 17 investment committee meeting.
DUMAC, the investment management arm of Duke University, increased the diversity of its $12.6 billion endowment by almost 4% between 2020 and 2021.
Cambridge Associates increased the number of diverse manager relationships in client portfolios as well as the percentage of assets invested with diverse managers in 2021.
The investment management industry is often referred to as a relationship business, and one organization is looking to build and extend those networks for students, particularly those at historically Black colleges and universities looking to enter the field.
Historically Black colleges and universities, typically limited by the size of their assets, are looking to gain further access to alternative assets as they seek to grow their endowments to further their mission as well as capture outsized returns that have swelled higher education institutions’ portfolios.
While the diverse makeup of many historically black colleges and universities’ endowments needs to be further built out, the institutions’ contributions to the pipeline of diverse talent in the investment management industry cannot be overstated, according to those involved with the industry.
COVID-19 Struggles Shouldn’t Distract From Endowment Diversification
