# Phillips Exeter Academy

Phillips Exeter Academy is an Endowment / Foundation based in Exeter, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Exeter, United States
- **Region:** North America
- **Address:** 20 Main Street, Exeter, NH 03833, United States
- **Founded:** 1781
- **Assets under management:** 1600 (Altss estimate)
- **Website:** exeter.edu
- **LinkedIn:** https://www.linkedin.com/school/phillips-exeter-academy/

## Regulatory record

- **Reports private funds:** No

## About

Phillips Exeter Academy was founded in 1781 by John and Elizabeth Phillips. The school operates its own 501(c)(3) endowment to support operations and financial aid. The endowment reached $1.6B in disclosed assets. The endowment deploys capital through private equity, real estate, hedge funds, and natural resources. Confirmed positions include Quantum Energy Partners VII and Quantum Energy Partners VII Co-Investment. Allocations span North America, Europe, Asia, and other regions. The structure uses fund-of-funds vehicles alongside direct co-investments and SPVs. Cambridge Associates provides benchmarking and advisory services. The Academy employs 217 professionals. Additional holdings include the 700-acre campus with 147 buildings and the Class of 1945 Library. Recent activity includes the Knowledge & Goodness campaign for campus modernization and financial aid. PwC acts as auditor and Ropes & Gray provides legal counsel. The endowment maintains a distinct governance model with an Investment Committee drawn from trustees who hold external roles in finance and public service, including Brad Briner's position as North Carolina State Treasurer.

## Sectors

- Private Equity
- Real Estate
- Energy Transition & Renewables
- Hedge Funds

## People

- Brad Briner — Chairman of the Investment Committee and Trustee
- Justin Merrill — Director of Investments
- Marijka Beauchesne — Chief Financial Officer
- Suzi Kwon Cohen — Trustee Vice President and Investment Committee Member

## Questions

### Who runs investment decisions at Phillips Exeter Academy?

Brad Briner chairs the Investment Committee. Justin Merrill serves as Director of Investments. Suzi Kwon Cohen sits on the Investment Committee.

### Does Phillips Exeter Academy participate in fund commitments or only direct deals?

The endowment uses both fund-of-funds commitments and direct co-investments. Positions include Quantum Energy Partners VII.

### What asset classes does the Phillips Exeter Academy endowment hold?

Holdings span private equity, real estate, hedge funds, and natural resources. The portfolio mixes liquid public equities with illiquid commitments.

### How is Phillips Exeter Academy related to its endowment vehicle?

The Academy itself operates the endowment as a 501(c)(3) non-profit educational institution to fund operations and financial aid.

## Related profiles

- [PFR Ventures](https://altss.com/profile/pfr-ventures)
- [Quadrant Capital](https://altss.com/profile/quadrant-capital)

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

Canonical page: https://altss.com/profile/phillips-exeter-academy

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