Endowment & Foundation Management Company
The portion of Dickinson’s endowment over which the college exercises control, valued at $306 million in February 2013, is invested through Investure, LLC, a recognized leader in the endowment and foundation investment management industry. The company pioneered the full-service outsourced investment office model, and currently manages approximately $10 billion across all asset classes. Investure focuses on the investment management needs of non-profits, serving as the investment office for a select group of prestigious colleges and foundations. In addition to Dickinson, Investure serves the following clients, which together form the Investure Consortium: Barnard College, Middlebury College, Smith College, Trinity College, The University of Tulsa, Carnegie Endowment for International Peace, The Edna McConnell Clark Foundation, Colonial Williamsburg Foundation, The Commonwealth Fund, Houston Endowment Inc., The Henry Luce Foundation, and Rockefeller Brothers Fund.
Investure pools the assets of all its clients, giving each (through greater capital and purchasing power) access to opportunities they would not have if they invested as individual entities. Additionally, because the Investure clients have common investment philosophies surrounding matters of risk and return, the pooled investing model allows Investure to offer a customized investment strategy while keeping management fees low. Most of the funds (approximately 80%) are invested with a group of core managers with whom Investure has longstanding relationships. These core managers invest in both public and private equity.
The following are excerpts from a presentation given by Investure at the July 25, 2013 SITF meeting.