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Baylor University
Baylor University established its endowment in 1845 alongside the founding of the institution itself. The fund directs resources to scholarships, faculty...
Baylor University
Baylor University established its endowment in 1845 alongside the founding of the institution itself. The fund directs resources to scholarships, faculty support, and research facilities without attribution to a single wealth creator. Dave Morehead leads investment decisions as CIO. The endowment deploys capital across private equity, hedge funds, private credit, natural resources, and distressed situations. Confirmed holdings include direct real estate such as 11th Street Flats student housing and Clifton Robinson Tower in Waco, plus the Martin Museum of Art collection and McMullen Watercolor Collection. It maintains positions in Medical Technology Venture Fund and lower mid-market buyouts through the endowment vehicle. Geographic exposure spans North America with additional confirmed activity in Africa, Asia, and South America. The endowment reports 2.2B in assets under management. It operates additional vehicles including the Baylor University Foundation, which distributed 98M in fiscal 2025, and the Student Foundation. The university maintains membership in NACUBO and the University Aviation Association. In September 2025 the endowment participated as a speaker at the Institutional Investor Allocators' Choice Awards discussing endowment management. The endowment integrates investment activity with university-owned operating businesses, including the Baylor University Flight Center Fleet managed through Universal Flight Concepts since 2019. This hybrid structure allows direct control over aviation training assets and research facilities such as the Baylor Research and Innovation Collaborative while pursuing external co-investments.
General information
Firm type
Endowment / Foundation
Year founded
1845
Location
Region
North America
Country
United States
City
Waco
Corporate office
One Bear Place #97030, Waco, Texas, United States
Principals
Dave Morehead
Chief Investment Officer
Renee Hanna
Managing Director of Private Investments
Jay A. Brown
Chair of the Baylor Board of Regents Finance and Facilities Committee
Sector focus
Frequently asked questions
Who runs investment decisions at Baylor University Endowment?
Dave Morehead serves as Chief Investment Officer. Renee Hanna holds the role of Managing Director of Private Investments. Jay A. Brown chairs the Board of Regents Finance and Facilities Committee.
Does Baylor University Endowment participate in fund commitments or only direct deals?
The endowment holds both fund commitments and direct positions. It maintains limited partner stakes in Medical Technology Venture Fund and lower mid-market buyouts alongside direct ownership of real estate and art collections.
What asset classes does Baylor University Endowment target?
Allocations include private equity, hedge funds, private credit, natural resources, commodities, infrastructure, and distressed situations. The endowment also holds timber, helium, and data center energy capacity.
Where does Baylor University Endowment source deal flow?
Sourcing occurs through direct university relationships and co-investor networks. The endowment has executed opportunistic real estate acquisitions in Waco and Jacksonville and maintains aviation assets through Universal Flight Concepts.
Does Baylor University Endowment maintain philanthropic structures?
Yes. The Baylor University Foundation serves as the primary philanthropic arm and distributed 98M in fiscal 2025. The Student Foundation raises additional scholarship funds through events such as the Bearathon.
What geographic regions does Baylor University Endowment cover?
Core activity centers on North America with confirmed exposure in Africa, Asia, and South America. Real estate holdings concentrate in Texas while energy and commodity positions extend globally.
How does Baylor University Endowment approach ESG?
The endowment maintains an ESG policy with faculty research involvement. A student-managed fund selects holdings based on high ESG scores.
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