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Oregon Health & Sciences University Foundation
The OHSU Foundation was established in 1971 under the leadership of Greg Ness, former board chair and retired CEO of The Standard, to channel philanthropic...
Oregon Health & Sciences University Foundation
The OHSU Foundation was established in 1971 under the leadership of Greg Ness, former board chair and retired CEO of The Standard, to channel philanthropic support toward Oregon Health & Sciences University. Since then, it has attracted transformative commitments from some of Oregon's most prominent business families, most notably the $2 billion pledge from Nike co-founder Phil Knight and his wife Penny, alongside major land and cash contributions from the Schnitzer family. The foundation's endowment now backs the state's primary academic medical center across education, research, and clinical care. The foundation deploys capital across a notably broad mandate — direct co-investments, buyouts, distressed debt, early-stage venture, growth equity, fund-of-funds, secondaries, and natural resources. Its most distinctive investment motion is a strategic partnership with Next Ventures, targeting OHSU spinouts via the Next Ventures II fund. The portfolio also holds a mix of commercial real estate in Portland, including the Franklin Building at 3030 SW Moody Avenue and land on the South Waterfront campus, plus a timberland portfolio and the OHSU art collection. Geographic exposure is anchored in the Pacific Northwest but extends nationally through fund commitments and co-investments. The endowment stands at an estimated $922 million. Board composition reflects deep institutional finance and real estate ties: John D. Hershey, a current board member, simultaneously sits on the boards of Blackstone and Sixth Street Specialty Lending. The foundation operates through multiple affiliated entities — the Doernbecher Children's Hospital Foundation and the OHSU Medical Research Foundation — and maintains relationships with the Oregon Community Foundation for philanthropic advising and the Institutional Limited Partners Association through its board connections. What distinguishes the OHSU Foundation is its dual identity as both an institutional investor and a technology-transfer engine. Unlike most university endowments that invest at arm's length from campus innovation, it directly co-invests in the commercialization of OHSU research through a named venture partnership. This aligns the foundation's investment returns with the very research enterprise its fundraising sustains.
General information
Firm type
Endowment / Foundation
Year founded
1971
Location
Region
North America
Country
United States
City
Portland
Corporate office
2020 SW 4th Avenue, Suite 900, Portland, OR 97201, United States
Principals
Greg Ness
Founder and Former Board Chair
John D. Hershey
Board Member
Sector focus
Frequently asked questions
Who runs investment decisions at the OHSU Foundation?
The foundation does not publicly name a single chief investment officer. Board governance plays a central role, with investment expertise provided by directors like John D. Hershey, who also serves on the boards of Blackstone and Sixth Street Specialty Lending. Day-to-day management and portfolio construction are handled internally by foundation staff, though specific committee structures are not publicly detailed.
What is the OHSU Foundation's relationship with Phil and Penny Knight?
Phil and Penny Knight are the foundation's most significant donors, having pledged $2 billion to OHSU. Phil Knight earlier provided a $500 million matching grant for the Knight Cancer Challenge. The Knight family are not employees of the foundation, but their commitments have fundamentally shaped its scale and mission.
How does the OHSU Foundation source investment opportunities?
The foundation accesses deals through a combination of external fund commitments and direct co-investments. Most notably, it maintains a strategic partnership with Next Ventures to invest directly in startups spun out of OHSU research. This gives it a proprietary deal-sourcing channel that few other health-science endowments possess.
Is the OHSU Foundation a single entity or a network of affiliated organizations?
It operates as a parent entity alongside at least two related foundations: the Doernbecher Children's Hospital Foundation and the OHSU Medical Research Foundation. These affiliates focus on specific clinical and research fundraising missions, while the main foundation manages the consolidated endowment.
What real assets does the OHSU Foundation directly hold?
The foundation owns a Portland commercial office building at 2020 SW 4th Avenue, the Franklin Building at 3030 SW Moody Avenue, land on the South Waterfront Schnitzer Campus and Marquam Hill, a timberland portfolio, and the OHSU art collection. These holdings reflect deep local real estate and natural resource exposure alongside financial assets.
Does the OHSU Foundation commit to external funds or only invest directly?
It uses a hybrid model. The strategy list includes fund of funds and venture fund commitments, alongside direct deal capabilities in venture, buyout, distressed debt, secondaries, and co-investments. The Next Ventures partnership represents a direct venture investment, while other parts of the portfolio likely rely on third-party managers.
Which sectors does the OHSU Foundation explicitly avoid?
The foundation does not publish an exclusion list. Its mission alignment with OHSU suggests a bias toward healthcare and life sciences, but its disclosed strategy spans buyout, distressed debt, real estate, and natural resources — indicating it does not restrict itself to medical-sector investments alone.
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