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Providence College Endowment
The Providence College Endowment was established alongside the college in 1917. It operates as the primary financial reserve for a private Catholic university...
Providence College Endowment
The Providence College Endowment was established alongside the college in 1917. It operates as the primary financial reserve for a private Catholic university in Providence, Rhode Island. Resources support scholarships and institutional priorities. The endowment maintains allocations across private equity, real estate, and hedge funds. Confirmed positions include commitments to Providence Equity Partners Funds. It also holds direct ownership of the 105-acre main campus and the Ben Mondor Center for Nursing and Health Sciences. All activity remains within North America. The endowment lists 321 million dollars in assets as of 2023. It works with advisors including Putnam Investments, PAR Capital Management, and Cambridge Associates. October 2024 marked the launch of the Beyond Limits campaign targeting 300 million dollars in new commitments.
General information
Firm type
Endowment / Foundation
Year founded
1917
Location
Region
North America
Country
United States
City
Providence
Corporate office
1 Cunningham Square, Providence, Rhode Island, United States
Principals
Thomas P. Corcoran III
Chair of the Investment Committee
Christopher M. Reilly
Vice Chair of the Investment Committee
Sector focus
Frequently asked questions
Who runs investment decisions at Providence College Endowment?
Thomas P. Corcoran III serves as Chair of the Investment Committee. Christopher M. Reilly acts as Vice Chair. Additional members include Paul R. Galietto and Michael J. Tucker.
Does Providence College Endowment participate in fund commitments or only direct deals?
The endowment holds limited partner positions in funds such as those managed by Providence Equity Partners. It also owns direct real estate assets including campus properties.
What investment stages does Providence College Endowment typically target?
Records indicate exposure to buyout and venture capital strategies through fund commitments and co-investments.
Where does the underlying wealth come from?
The endowment draws from donations, investment returns, and institutional reserves tied to Providence College operations since 1917.
Does Providence College Endowment maintain philanthropic structures, and how are they separated?
The endowment supports the college's 501(c)(3) activities including the Fund for Providence College. Annual distributions exceed 10 million dollars for financial aid.
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