NJIT Endowment

NJIT Endowment

The New Jersey Institute of Technology Endowment was established in 1959 and is stewarded by the Foundation at NJIT. Unlike many university pools that outsource the bulk of their alternatives exposure, NJIT's asset base is interwoven with Newark's physical landscape through direct property holdings and an in-house venture studio, reflecting decades of donor-driven and institution-led development. NJIT's investment posture spans commercial real estate, venture capital, and liquid endowment assets. Real estate positions include 494 Broad Street, the Wellness and Events Center, and the mixed-use Central Avenue & Lock Street Development, alongside the University Heights Science Park. On the venture side, the NJIT Venture Studio and Fund I make direct investments in early-stage companies, while the Highlanders Angel Network, founded by Chairman Emeritus Emil C. Herkert and affiliated with the Angel Capital Association, channels alumni and donor capital into startups. Healthcare innovation is pursued through a partnership with Hackensack Meridian Health. The Foundation board includes major donors Paul V. Profeta and Marjorie A. Perry, names that appear on campus buildings and link the endowment's fortunes to successful real estate and construction operators. Recent activity includes the ongoing development of Central Avenue & Lock Street, a mixed-use project in partnership with the Newark Housing Authority. The endowment participates in NACUBO for industry benchmarking and maintains donor societies such as the Colton Society for gifts over $500,000. NJIT's structural differentiator is its hybrid model: a traditional higher-education endowment that also functions as a direct real estate developer and venture studio operator within its host city. This blurs the line between institutional investor and active urban stakeholder, creating a portfolio shaped by local development outcomes rather than purely marketable securities selection.