# Montana State University Alumni Foundation

Montana State University Alumni Foundation is an Endowment / Foundation based in Bozeman, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Bozeman, United States
- **Region:** North America
- **Address:** 1501 South 11th Avenue, Bozeman, MT 59715, United States
- **Founded:** 2012
- **Assets under management:** 287 (Altss estimate)
- **Website:** msuaf.org
- **LinkedIn:** https://www.linkedin.com/company/montana-state-university-alumni-foundation

## About

The Montana State University Alumni Foundation formed in 2012 from the merger of the MSU Alumni Association (1903) and MSU Foundation (1946). Fran Albrecht serves as President and CEO. The entity operates as the primary fundraising and investment vehicle supporting Montana State University. The foundation holds a long-term investment portfolio valued at $310 million. It maintains LP positions in EIV Capital Fund IV, Palistar Communications Infrastructure Offshore Fund II, and HV Capital Fund IX Ventures. Direct holdings include Advanced Technology Inc. and Montana State University Innovation Campus, both located in Bozeman, Montana. Commodity exposures target 3-4 percent of assets through indices such as MSCI AC World Commodity Producer. The foundation employs 88 professionals and participates in the NACUBO-TIAA Study of Endowments. It sponsored MSU Giving Day in February 2024. Service providers include Eide Bailly LLP as auditor and Cambridge Associates as investment advisor. Governance centers on an Investment Committee chaired by Mark Bacigalupo and a Board of Governors that includes external members from Evercore and D.A. Davidson. This structure separates endowment management from university operations while coordinating with component units such as the Museum of the Rockies.

## Sectors

- Education

## People

- Fran Albrecht — President and CEO
- Mark Bacigalupo — Chair of the Investment Committee

## Questions

### Who runs investment decisions at Montana State University Foundation?

Mark Bacigalupo chairs the Investment Committee. The committee oversees allocations across public equities, private funds, and direct real estate holdings.

### Does Montana State University Foundation participate in fund commitments or only direct deals?

The foundation holds limited partner interests in multiple external funds including EIV Capital Fund IV and Palistar Communications Infrastructure Offshore Fund II. It also owns 100 percent of Advanced Technology Inc. and Montana State University Innovation Campus.

### What asset classes does Montana State University Foundation hold?

Holdings include long-term endowment portfolios, commodities via index exposure, and direct commercial real estate in Bozeman. The portfolio maintains 3-4 percent target allocation to natural resources.

### How is Montana State University Foundation related to Montana State University?

The foundation serves as the primary beneficiary vehicle for private support to the university. It manages donor funds and operates real estate assets that support university activities.

### Where does Montana State University Foundation maintain its headquarters?

The foundation operates from the Great Bear Alumni Center at 1501 South 11th Avenue in Bozeman, Montana.

## Related profiles

- [Carpenter Co.](https://altss.com/profile/carpenter-co)
- [Cosmo Energy Holdings](https://altss.com/profile/cosmo-energy-holdings-co-ltd)

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Last updated: 2026-07-08T21:10:43.934Z

Canonical page: https://altss.com/profile/montana-state-university-foundation

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