Milton Academy Endowment

Milton Academy Endowment

Milton Academy Endowment was established alongside the school in 1798. It functions as the primary vehicle for financial aid, faculty compensation, and campus maintenance. Heidi Vanderbilt-Brown manages day-to-day financial operations. The endowment targets a 10 percent allocation to private equity. Holdings include commitments to Audax Private Equity Fund VII and various real estate partnerships. Public equity and hedged equity strategies form the largest reported segments, valued at $179 million and $40 million respectively in earlier statements. Exposure extends across North America, Europe, Asia, Africa, South America, the Middle East, and Oceania. The endowment reports $412 million in assets. Partners Capital has served as investment advisor since 2016. Additional service providers include Cambridge Associates and Ropes & Gray LLP. The firm maintains memberships in the National Association of Independent Schools and the Association of Independent Schools in New England. Governance rests with the Board of Trustees, currently led by Claire Hughes Johnson. Investment decisions flow through the CFOO and external advisors rather than an internal CIO. This structure separates school operations from portfolio management.