# Regents of the University of Minnesota

Regents of the University of Minnesota is an Endowment based in Minneapolis, United States.

## Overview

- **Organization type:** Endowment
- **Headquarters:** Minneapolis, United States
- **Region:** North America
- **Address:** Minneapolis, MN, United States
- **Founded:** 1851
- **Assets under management:** $4.2 billion (per University of Minnesota public filings, 2023)
- **Website:** regents.umn.edu
- **LinkedIn:** https://www.linkedin.com/company/university-of-minnesota-investment-advisors

## Regulatory record

- **Reports private funds:** No

## About

The Regents of the University of Minnesota governs the university system's endowment, established in 1851 when the university was founded. The endowment is managed by an internal investment office led by an interim chief investment officer and the executive director of investments, Stuart Mason. The endowment targets a diversified portfolio spanning public equities, fixed income, private equity, real estate, and alternative investments. Known holdings include private equity commitments via funds like Hamilton Lane and real assets through direct ownership of university-adjacent properties. Geographic focus is primarily US-based, with some exposure to global markets via publicly traded securities. The endowment's size was approximately $4.2 billion as of fiscal year 2023 (per the university's audited financial statements). The investment office employs a small team of professionals based in Minneapolis. No philanthropic foundation or adjacent vehicles are disclosed as separate from the endowment's structure. A structural differentiator is the endowment's role as a public university fund, requiring transparency under state open-records laws and a mandate to support academic operations rather than maximize returns independently. This governance framework shapes a conservative risk posture relative to private endowments.

## Sectors

- Education
- Real Estate
- Private Equity
- Fixed Income
- Public Equities

## People

- Stuart Mason — Executive Director of Investments
- Margaret A. H. B. B. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. H. — Interim Chief Investment Officer

## Questions

### Who runs investment decisions at the Regents of the University of Minnesota endowment?

The investment office is led by an interim chief investment officer and Executive Director of Investments Stuart Mason. The board of regents provides oversight.

### How does the University of Minnesota endowment allocate its assets?

The endowment targets a diversified portfolio of public equities, fixed income, private equity, real estate, and alternative investments. Specific allocations are disclosed in annual financial statements.

### What is the endowment's total size?

As of fiscal year 2023, the endowment held approximately $4.2 billion, per the university's audited financial reports.

### What is the endowment's investment approach?

The endowment follows a long-term, risk-conscious strategy focused on generating sustainable returns to support university operations. It uses external fund managers and direct investments.

### Where does the endowment's wealth come from?

The endowment is funded by state appropriations, tuition revenue, donations from alumni and supporters, and retained investment earnings.

### Does the endowment invest in private equity?

Yes, the endowment allocates to private equity via funds and co-investments, primarily through relationships with external managers like Hamilton Lane.

### How does the endowment's structure differ from a private foundation?

As a public university endowment, it operates under state open-records laws and a mandate to support academic and research activities, which can limit risk-taking relative to private endowments.

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

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