Peddie School

Peddie School

The Peddie School was founded in 1864 as a private college preparatory institution. Its endowment originated from school operations and major gifts, including Walter Annenberg's $100 million donation in 1993. The fund covers financial aid, faculty compensation and campus maintenance. The endowment deploys across private equity at 6 percent, venture capital at 3 percent, real estate, private credit and commodities at 1 percent. Confirmed vehicles include commitments to StepStone VC Secondaries Fund IV and HarbourVest Partners. Geographic exposure covers North America, Europe and Asia. The structure uses limited partner positions through the endowment entity rather than direct co-investments. The school employs 72 staff. It maintains one primary campus in Hightstown with no additional offices. Adjacent vehicles consist of the endowment itself and the One Peddie Campaign launched in June 2023 to raise funds for endowment growth, financial aid and capital projects. The school participates in the Commonfund Benchmarks Study of Independent Schools. Investment decisions rest with a committee that includes trustees from Davidson Kempner, Apollo Global Management and Ares Management. This governance model ties capital allocation directly to the school's board rather than an external family office or multi-client platform.