# RWJ Barnabas Health

RWJ Barnabas Health is an Endowment / Foundation based in West Orange, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** West Orange, United States
- **Region:** North America
- **Address:** West Orange, NJ, United States
- **Assets under management:** Undisclosed
- **Website:** rwjbh.org
- **LinkedIn:** https://www.linkedin.com/company/rwjbarnabashealth

## Regulatory record

- **Reports private funds:** No

## About

At RWJBarnabas Health, the comprehensive care you need is in reach! With the safety of our patients and team members at the forefront, we are taking the appropriate precautions and using best practices to continue to ensure the highest quality care, protection, support and comfort for all of our patients.

## Sectors

- Healthcare Services
- Real Estate

## People

- Mark E. Manigan — President and Chief Executive Officer
- Kathleen Jacobs — Chief Investment Officer

## Questions

### Who runs investment decisions at RWJ Barnabas Health?

Kathleen Jacobs has led the investment function since 2024, when she was appointed the system's first Chief Investment Officer. She previously served as CIO of NYU's endowment, a multi-billion-dollar portfolio widely respected for its long-term performance. Jacobs reports to President and CEO Mark E. Manigan and is tasked with professionalizing the management of the system's financial reserves.

### How is RWJ Barnabas Health's investment portfolio structured?

The system maintains a Long-Term Investment Portfolio and a Capital Reserve Fund, both managed from its West Orange, New Jersey headquarters. These pools of capital support the non-profit's operations and capital projects across its network of more than a dozen hospitals. The structure is typical of large health systems that hold substantial financial reserves to fund expansion, weather operating cycles, and support debt covenants.

### Does RWJ Barnabas Health invest directly in real estate?

Yes. The balance sheet includes direct commercial real estate holdings tied to clinical operations, such as the Jack and Sheryl Morris Cancer Center in New Brunswick and the RWJBarnabas Health Family Care & Wellness facility at Monmouth Mall in Eatontown. These are operating assets rather than purely financial real estate investments, blurring the line between a real-estate allocation and the system's own physical plant.

### What is RWJ Barnabas Health's relationship with Rutgers University?

RWJ Barnabas Health and Rutgers University maintain a formal academic health care partnership that integrates clinical care, medical education, and research. Robert Wood Johnson University Hospital in New Brunswick serves as a principal teaching hospital for Rutgers medical students. The partnership positions the system as an academic medical center with access to research pipelines and grant-funded programs.

### What is the scale of RWJ Barnabas Health's operations?

RWJ Barnabas Health is the largest academic health care system in New Jersey, with more than a dozen hospitals and hundreds of outpatient sites. While the system does not publicly disclose the size of its investment portfolio, its annual operating revenue runs into the billions — placing it among the largest non-profit health systems in the United States by revenue and making the investment function a material institutional allocator in its own right.

## Related profiles

- [RW Investment Management (RWIM)](https://altss.com/profile/rw-investment-management-rwim)
- [RWJ Barnabas Health Retirement Income Plan](https://altss.com/profile/rwj-barnabas-health-retirement-income-plan)

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

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