Biola University

President Barry H. Corey and Vice President of Business and Financial Affairs Michael Pierce oversee financial strategy, with input from the Board of Trustees. Trustee Promod Haque, Senior Managing Partner at Norwest Venture Partners, and Board Chair Michael Maples, co-founder of homebuilder Trumark Companies, bring institutional venture and real estate expertise to the investment committee. Day-to-day investment execution is managed through the university's business and financial affairs office.

The endowment uses a hybrid approach. It directly owns a portfolio of residential apartment buildings in La Mirada, California, near the main campus. It also invests in venture capital and private equity through fund-of-funds commitments, direct co-investments, and SPVs. The student-run Biola Student Managed Investment Fund makes direct early-stage startup investments as part of the university's educational mission.

The endowment directly owns multiple residential properties in La Mirada, California, all within approximately half a mile of the main campus. These include Lido Mirada Apartments, Tropicana Apartments, La Mirada Apartments, Welch Apartments, Tradewinds Apartments, and five Rosecrans Apartments buildings. All are standard multifamily rental properties serving the local market.

The Biola Student Managed Investment Fund, housed within the Crowell School of Business, allows students to gain hands-on experience evaluating and investing in early-stage startups. The fund targets sectors including AI/ML, climate technology, digital health, gaming, and fintech. It functions as both an educational tool and a source of direct venture exposure for the university's overall portfolio.

Biola's investment network includes its own board members and major donors who act as de facto co-investors. Trustee Henry Riady, part of Indonesia's Lippo Group, and the Ahmanson family, through Fieldstead and Company, have provided significant capital for university projects, creating a philanthropic investment ecosystem. The endowment participates in direct co-investments and SPVs alongside external GPs, though specific co-investment partners are not publicly itemized.

The endowment's primary purpose is to support university operations and financial stability. However, it is complemented by separate philanthropic structures. The Center for Christianity, Culture and the Arts, funded by Howard and Roberta Ahmanson, and grants from the Lilly Endowment and the James and Joan Lindsey Family Foundation support non-investment university programming. The endowment's investments do not carry an explicit faith-based screen, though operations align with Biola's evangelical Christian identity.

At an estimated $178 million, Biola's endowment is modest compared to major research universities but significant within the Council for Christian Colleges and Universities network. The university benchmarks itself against other CCCU members and independent liberal arts colleges through participation in the NACUBO annual endowment study. The endowment's hybrid direct-real-estate and venture model distinguishes it from many similarly sized faith-based institutions that rely primarily on traditional managed fund allocations.