# Bellarmine University Endowment

Bellarmine University Endowment is an Endowment / Foundation based in Louisville, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Louisville, United States
- **Region:** North America
- **Address:** Louisville, KY, United States
- **Founded:** 1950
- **Assets under management:** $58 million (Altss estimate)
- **Website:** www.bellarmine.edu
- **LinkedIn:** https://www.linkedin.com/company/bellarmine-university

## Regulatory record

- **Reports private funds:** No

## About

Bellarmine University Endowment was established in 1950 to provide a permanent financial foundation for Bellarmine University, a private Catholic liberal-arts institution in Louisville, Kentucky. President Dr. Susan M. Donovan oversees the institution, while CFO Denise Brown-Cornelius manages financial operations including the endowment's deployment. The endowment allocates to alternatives through a focused strategy emphasizing mezzanine debt and secondary market acquisitions. The fund maintains an Alternative Investment Portfolio alongside direct real estate assets — the main campus at 2001 Newburg Road, the Watterson Medical Center at 3430 Newburg Road, and the Bellarmine Sports Complex. Governance sits with the Board of Trustees, chaired by Donald J. Kelly of Wyatt, Tarrant & Combs. James Allen, Vice Chair of Baird and former CEO of Hilliard Lyons, brings regional investment banking and wealth management experience to the investment committee. The endowment participates in NACUBO, ACCU, and AIKCU, positioning it within peer networks of Catholic and Kentucky independent colleges that share manager research and due-diligence resources. The endowment's structural distinction lies in its dual-character portfolio: a financial endowment pursuing niche credit and secondary strategies alongside directly held educational and medical real estate that serves the university's broader mission. The Thomas Merton Center collection and Merton family watercolors held in the W.L. Lyons Brown Library represent unique cultural assets not marked to market.

## Sectors

- Secondaries & Special Situations
- Private Credit

## People

- Dr. Susan M. Donovan — President
- Denise Brown-Cornelius — Vice President for Finance & Facilities and CFO
- Donald J. Kelly — Board of Trustees Chair
- James Allen — Trustee and Vice Chair of Baird

## Questions

### Who runs investment decisions at Bellarmine University Endowment?

The Board of Trustees holds fiduciary responsibility for the endowment's investments. Donald J. Kelly chairs the board, and James Allen, Vice Chair of Baird, adds financial-sector expertise from his prior role as CEO of regional brokerage Hilliard Lyons. Day-to-day financial oversight sits with CFO Denise Brown-Cornelius. The university president, Dr. Susan M. Donovan, serves as a board member and institutional leader.

### Does Bellarmine University Endowment invest directly in real estate?

Yes. The endowment holds several Louisville-area properties directly, including the university's main campus, the Watterson Medical Center at 3430 Newburg Road, and the Bellarmine Sports Complex. These assets serve the university's educational mission while anchoring the endowment's long-duration real-asset exposure.

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/bellarmine-university-endowment

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