Salve Regina University

Salve Regina University

Salve Regina University was established in 1934 by the Sisters of Mercy, a Catholic religious order with a long tradition of education and healthcare ministry. President Kelli J. Armstrong leads the institution from its campus spanning historic Gilded Age mansions along Newport's coastline, overseeing over 2,800 undergraduate and graduate students. The university's sponsorship remains with the Sisters of Mercy of the Americas, anchoring its identity in the Mercy tradition of service and liberal arts education. The university's endowment, estimated at roughly $92 million (Altss estimate), is deployed largely through an outsourced-chief-investment-officer or consultant-driven model, typical for institutions of its size within the NACUBO universe. Strategy allocations per the university's filings touch buyout, fund-of-funds, natural resources, and secondaries exposures. The portfolio benefits from Newport's deep philanthropic networks and board-level relationships, including ties to former New York Times Company CEO Janet Robinson, a past board chair, and the Pell Center for International Relations and Public Policy housed on campus. Michael Grandchamp serves as Vice President for Operations and CFO, overseeing financial administration including endowment governance. The institution's physical footprint includes architecturally significant holdings such as Ochre Court, Wakehurst, and McAuley Hall, alongside more recent campus additions, though the endowment remains distinct from these operating assets. Salve Regina is a member of NACUBO, the Association of Catholic Colleges and Universities, and the NCAA Division III. Sisters of Mercy sponsorship provides a structural differentiator rare among small private endowments — an enduring religious-order relationship that influences investment policy through Catholic-values screening. The board draws heavily from Mercy-affiliated laity and religious leadership, creating continuity in fiduciary oversight that differs from the alumni-dominated boards common at peer institutions.