# City of Hope

City of Hope is an Endowment / Foundation based in Duarte, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Duarte, United States
- **Region:** North America
- **Address:** 1500 E. Duarte Road, Duarte, CA, United States
- **Founded:** 1913
- **Assets under management:** $3.85B (Altss estimate)
- **Website:** cityofhope.org
- **LinkedIn:** https://www.linkedin.com/company/city-of-hope

## Regulatory record

- **Reports private funds:** No

## About

City of Hope was founded in 1913 as a tuberculosis sanatorium before evolving into a National Cancer Institute-designated comprehensive cancer center under CEO Robert Stone. Its research enterprise, anchored by the Beckman Research Institute and the Irell & Manella Graduate School of Biological Sciences, produces a biotech patent portfolio that feeds its investment posture. Unlike a conventional university endowment, the institution's capital originates from clinical revenues, philanthropy, and research monetization. The endowment deploys across venture capital, growth equity, buyouts, real estate, distressed debt, and natural resources, with a strategy that spans seed-stage biotech spinouts to large-scale commercial property. Confirmed assets include the Lennar Foundation Cancer Center in Orange County, developed alongside FivePoint, and the Hope Village residential project in Duarte. The portfolio also holds a biotech patent estate and facilities acquired from Cancer Treatment Centers of America in Atlanta, Phoenix, and Chicago — a multi-campus expansion that deepened its real-asset base. City of Hope operates from its main Duarte campus with additional locations in Irvine, Phoenix, Atlanta, and Chicago. Its board includes TPG Growth Co-Managing Partner Matthew Hobart and intellectual property litigator Morgan Chu, reflecting the hybrid clinical-financial governance structure. In 2023, Panda Express founders Andrew and Peggy Cherng donated $100 million to the institution, a gift that underscores its reliance on high-net-worth co-investors for capital formation. A structural differentiator is the direct pipeline from its own translational research — including development of synthetic human insulin — into its investment thesis. This closed-loop model allows the endowment to fund and commercialize therapies emerging from its labs, blurring the line between grant-making and venture deployment in a way few other non-profit health systems replicate.

## Sectors

- Digital Health
- Healthcare Services
- Real Estate
- Biotechnology

## Offices

- Irvine, CA, United States
- Phoenix, AZ, United States
- Atlanta, GA, United States
- Chicago, IL, United States

## People

- Robert Stone — Chief Executive Officer and Helen and Morgan Chu CEO Distinguished Chair
- Jennifer Parkhurst — Chief Financial Officer
- Glenn D. Steele Jr. — Chair of the Board of Directors
- Morgan Chu — Board Member
- Matthew Hobart — Board Member
- Charlotte Hubbert — Board Member

## Questions

### Who runs investment decisions at City of Hope?

President and CEO Robert Stone holds ultimate authority over the institution's strategy, including its investment posture. The board includes financial operators like TPG Growth Co-Managing Partner Matthew Hobart and IP litigator Morgan Chu. CFO Jennifer Parkhurst oversees financial operations, though day-to-day investment committee structures are not publicly detailed.

### Is City of Hope's endowment invested like a typical university pool?

It diverges in notable ways. The endowment targets venture capital, buyouts, distressed debt, natural resources, and real estate — a wider mandate than many similarly sized non-profit pools. It also holds direct commercial property, including the Lennar Foundation Cancer Center and Hope Village residential development, alongside a global biotech patent portfolio.

### What is City of Hope's connection to the Cancer Treatment Centers of America facilities?

City of Hope acquired CTCA facilities in Atlanta, Phoenix, and Chicago, expanding its clinical footprint and adding significant commercial real estate to its balance sheet. The transaction transformed the institution into a multi-regional operator and deepened its real-asset exposure.

### Where does City of Hope's investment capital come from?

Capital is sourced from clinical revenues, high-net-worth philanthropy, and monetization of its research — including royalties from the development of synthetic human insulin. Major donors include Andrew and Peggy Cherng, founders of Panda Express, who contributed $100 million in 2023.

### How does City of Hope source proprietary deal flow?

A structural source is the institution's own translational research and biotech patent portfolio. Therapies and technologies developed in its labs can be commercialized directly or through venture partnerships, creating an internal pipeline that most allocators cannot replicate.

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- [City of Los Angeles Deferred Compensation Plan](https://altss.com/profile/city-of-los-angeles-deferred-compensation-plan)
- [Employees’ Retirement Fund of the City of Dallas](https://altss.com/profile/employees-retirement-fund-of-the-city-of-dallas)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/city-of-hope

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