College of the Holy Cross Endowment

The relationship traces to James F. Mooney III, a College trustee who is also a partner at Baupost. Having a trustee in a senior role at one of the world's most sought-after hedge funds provides the endowment with a rare governance-linked allocation to a manager otherwise closed to new investors.

The College holds direct real estate in Worcester, including the City View Townhouses residential property, the New Jesuit Residence, and additional non-campus mixed-use parcels. These properties sit alongside the core academic campus at 1 College Street and generate income or reduce institutional operating costs.

Daniel P. Ricciardi serves as Associate Vice President for Investments and Institutional Resources, overseeing day-to-day management of the portfolio. Historically, the office has been lean — former CIO Timothy Jarry held the role through 2020 — with strategic input coming from the Board of Trustees.

Holy Cross participates in the NACUBO annual endowment study and operates with a hedge-fund and real-asset tilt more common at larger pools. Most endowments in its likely $1B–$1.3B range run higher allocations to public equities and fixed income, making Holy Cross's concentrated alternatives exposure distinctive among Jesuit colleges.

The Lilly Endowment has been a significant philanthropic partner. Within the College's collection, the Iris and B. Gerald Cantor Art Gallery houses a notable grouping of Auguste Rodin sculptures, reflecting the donors' broader commitment to arts philanthropy across multiple institutions.