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University of California, Berkeley Foundation Endowment Fund

Name: University of California, Berkeley Foundation

Assets Under Management: $3.13 Billion (Source: University of California, Berkeley Foundation on 6/30/2014)

Annual Report:  UNIVERSITY OF CALIFORNIA, BERKELEY Annual Financial Report 2012-13

Portfolio Insights: “The University of California, Berkeley Foundation (the “Foundation”) is a legally separate not-for-profit organization dedicated to providing to Berkeley the financial benefits generated from its fundraising efforts and investment earnings. The financial statements of the Foundation are presented discretely in Berkeley’s financial statements because of the nature and significance of their relationship with the Berkeley campus, including its ongoing financial support of the campus. However, the Notes to Financial Statements focus only on the campus. Information relating to the Berkeley Foundation can be found in its separately issued financial statements report.” (Source)

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Top University of California, Berkeley Foundation Endowment Fund Headlines:

1) The University of California, Berkeley Foundation (“UCBF”) is the fiduciary for long term endowment assets (collectively, “General Endowment Pool” or “GEP”) designated for the support of UC Berkeley. UCBF has delegated certain aspects of investment oversight t o Berkeley Endowment Management Company (“BEMCO”) pursuant to standing corporate resolutions and an Investment Management Services Agreement between UCBF and BEMCO. In accordance with its delegated authorities, BEMCO serves as the investment manager with day-to-day oversight of investment activity and implementation through its Board of Directors (“ BEMCO Board”), Chief Investment Officer (“CIO”) and staff, while UCBF retains ultimate authority over BEMCO’s policies and practices. (Source)

2) For more than a half century, the University of California, Berkeley Foundation (UCBF) has supported and advanced the mission of the University of California, Berkeley by encouraging private philanthropy. The Foundation is the most important volunteer body affiliated with the campus and serves as the University’s primary vehicle for enlisting fundraising volunteers from the private sector. The Foundation ensures that there is a long-term commitment to the campus fundraising program.

Private support is critical to the future of Cal as full state support is unlikely to return. Private gifts are now necessary to provide for core programs, to build new buildings, to create new programs, and to carry the legacy of Cal into the next century.

The Foundation is governed by a Board of Trustees composed of professional, business, and philanthropic leaders dedicated to promoting the University’s pursuits of teaching, research, and public service. (Source)

3) Mark Bertelsen is a trustee of the University of California, Berkeley Foundation. Mr. Bertelsen is also a member of the executive committee of the U.C. Santa Barbara Foundation and served as its chair from 2001 to 2003. He also serves on the Dean’s Cabinet of the College of Engineering and on the Director’s Council of the Institute of Energy Efficiency of the University of California Santa Barbara. Mr. Bertelsen also served on the board of directors of Autodesk, Inc. during the past five years. (Source)

4) Sep 16, 2009 – The University of California, Berkeley Foundation’s board of trustees set up a professional nonprofit corporation to handle its $736 million endowment. Previously, a volunteer investment committee oversaw that money. John-Austin Saviano will oversee the new management company as president and chief investment officer. He worked previously in Menlo Park for Boston-based investment consultant Cambridge Associates. His salary will be $270,000, paid for by a $3 million gift from the William and Flora Hewlett Foundation. Saviano’s not a U.C. Berkeley employee — both the foundation and the subsidiary management company are independent of the university they serve. A five-person board of directors will oversee the management company. (Source)

5) University of California, Berkeley Foundation today launched an investment management subsidiary, UC Berkeley Management Co., to manage the $738 million portion of the university’s $2.3 billion endowment not overseen by the University of California regents, confirmed spokesman Jose Rodriguez. The foundation’s announcement, which appeared on its website today, called the launch the culmination of a “long-standing goal” to move to a professional management structure, because of the greater complexity that endowments in excess of $500 million require. The foundation had previously relied on a volunteer investment committee to oversee investments. (Source)

About Richard C. Wilson