# NJIT Endowment

NJIT Endowment is an Endowment / Foundation based in Newark, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Newark, United States
- **Region:** North America
- **Address:** Newark, New Jersey, United States
- **Founded:** 1959
- **Assets under management:** $198M (Altss estimate)
- **Website:** njit.edu
- **LinkedIn:** https://njit.edu

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Real Estate
- Venture Capital
- Healthcare Services
- Education

## People

- Teik C. Lim — President, NJIT; ex-officio Foundation Board member
- Robert C. Cohen — Chair, NJIT Board of Trustees

## Questions

### How are investment decisions made at the NJIT Endowment?

The Foundation at NJIT board, which includes both university officials and major donors like Paul V. Profeta and Marjorie A. Perry, stewards the endowment. Investment decisions span traditional pooled assets, direct real estate holdings in Newark, and the operations of the NJIT Venture Studio and Highlanders Angel Network. The president of NJIT serves as an ex-officio board member.

### Does the endowment primarily invest in funds or direct deals?

NJIT's model is weighted toward direct holdings. The Foundation directly owns multiple commercial and mixed-use properties in Newark, such as 494 Broad Street and the Wellness and Events Center. It also runs the NJIT Venture Studio Fund I for direct venture investments, and the affiliated Highlanders Angel Network facilitates direct angel deals.

### How does the NJIT Venture Studio work?

The NJIT Venture Studio and its associated Fund I make direct investments in early-stage companies, often leveraging NJIT's research ecosystem. The Studio is linked to the New Jersey Economic Development Authority's Strategic Innovation Center platform. Its focus includes deep tech and healthcare, the latter pursued through a partnership with Hackensack Meridian Health.

### What role does real estate play in the endowment?

Real estate is a central pillar. The Foundation owns a portfolio concentrated in Newark's University Heights, including the University Heights Science Park, the P3 student housing project Maple Hall, and the mixed-use Central Avenue & Lock Street development, a joint effort with the Newark Housing Authority.

## Related profiles

- [The Marshall University Foundation](https://altss.com/profile/the-marshall-university-foundation)
- [Corpus Christi Firefighters' Retirement System](https://altss.com/profile/corpus-christi-texas-firefighters-retirement-system)

---

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

Canonical page: https://altss.com/profile/new-jersey-institute-of-technology-endowment

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology