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Tulane University Endowment Fund

Name: Tulane University Investment Office

Assets Under Management: $2.18 Billion (Source: Tulane University on 6/30/2013)

Annual Report: Tulane University Financial Statements 2012-13

Portfolio Insights: “Tulane University, a private research university founded in 1834, is one of the most respected universities in the country. A member of the prestigious Association of American Universities, it is consistently ranked among the top universities in the nation. With research and educational partnerships that span the globe, top-ranked programs in academic and professional schools and its location in historic New Orleans, Louisiana, Tulane offers an unparalleled educational experience for its 13,486 students.

The university has agreements with donors that include irrevocable charitable remainder trusts, charitable gift annuities, and life income funds where the university serves as trustee. Assets held in trust are generally comprised of investments. Such values are reported as temporarily restricted net assets net of the estimated future payments to be made to donors or other beneficiaries.” (Source)

Our team, the Endowment Fund Association (EFA) and is the #1 community and most visited website dedicated to endowment fund professionals.  We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help,  and also provide Endowment 500 research and Endowment Database Solutions.

Top Tulane University Endowment Fund Headlines:

1) Only at Tulane University is there a billion-dollar endowment that supports the fossil fuel companies whose activities imperil the very city Tulane claims to empower. Because it is unconscionable to pay for our education with investments that will condemn New Orleans, this nation, and the planet to climate disaster, we call on Tulane University to immediately freeze any new investment in fossil fuel companies, and to divest within five years from direct ownership and from any commingled funds that include fossil fuel public equities and corporate bonds. (Source)

2) Tulane University has hired Jeremy Crigler as chief investment officer. Crigler’s primary responsibility will be managing the school’s endowment, which recently reached $1 billion. Crigler, 43, previously served as senior investment officer for Cornell University in Ithaca, N.Y, where he was part of a team responsible for developing and implementing investment policies and performance measures for the university’s $6 billion endowment. He also managed a team responsible for investing $2.5 billion in public equity, hedge funds and other assets for the university. (Source)

3) Tulane University is successful in obtaining millions of dollars of public funds from the state of Louisiana. This support to a private institution that primarily services out-of-state students violates the State Attorney General’s opinion about using public funds for private purposes, and rewards an academic institution that engages in tax-sheltered business activities in violation of its founding charter. (Source)

4) Tulane University has hired Richard Chau from wealth advisory Bessemer Trust as its new director of private investments. His arrival comes as Tulane attempts to boost its $1 billion endowment portfolio’s exposure to private investments. Chau was previously an investment analyst at the Andrew W. Mellon Foundation. Chau, whose role is effective as of last week, replaces Cari Lodge who was hired by Commonfund Capital in May to oversee its private secondaries busines (Source)

5) Tulane University was founded in 1834 in New Orleans, LA. The University’s endowment is managed by an investment and support staff based in Darien, CT. The $1.2 billion endowment is well diversified across assets classes and geographies and is used to support the University’s mission. (Source)

About Richard C. Wilson