St. Olaf College

St. Olaf College

St. Olaf College was founded in 1874 in Northfield, Minnesota, and remains affiliated with the Evangelical Lutheran Church in America. The college operates an endowment currently valued at $804 million and managed by an internal Investment Office with support from external advisors. The endowment targets a 15 percent allocation to private equity and maintains confirmed positions in vehicles including Acacia Institutional Partners LP, Oaktree Opportunities Fund XB and Park Street Capital Private Equity Fund X LP. It also commits to hedge funds and real estate strategies. Geographic exposure spans North America with indicated reach into Europe and Asia. Liquidity policy requires 65 percent of long-term assets convertible within three years. The college employs an Investment Office supported by CornerStone Partners since 2018 and Northern Trust as custodian. Additional offices are not maintained. In July 2024 the college hosted the St. Olaf Conference on Worship, Theology, and the Arts. The institution belongs to NACUBO and the Associated Colleges of the Midwest. Governance rests with the Board of Regents chaired by Susan Gunderson, which sets investment policy separate from the affiliated church. Direct ownership of campus real estate, natural lands and a wind turbine provides operational control distinct from pure financial portfolios held by peer endowments.