# The National Trust

The National Trust is an Endowment / Foundation based in Swindon, United Kingdom.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Swindon, United Kingdom
- **Region:** Europe
- **Address:** Heelis, Kemble Drive, Swindon, Wiltshire, United Kingdom
- **Founded:** 1895
- **Assets under management:** 2B (Altss estimate)
- **Website:** nationaltrust.org.uk
- **LinkedIn:** https://uk.linkedin.com/company/national-trust

## Regulatory record

- **Reports private funds:** No

## About

The National Trust was established in 1895 by Octavia Hill and others as a membership organization to protect places of historic interest or natural beauty. It operates as an endowment-funded charity rather than a family office, with no single wealth creator disclosed. The Trust allocates 10.2 percent of its portfolio to private equity. It holds direct ownership of land parcels including one-quarter of the Lake District and 12 percent of the Peak District. Renewable energy infrastructure comprises over 130 projects such as hydro-turbines and solar arrays. Geographic exposure centers on the United Kingdom with additional holdings through the Royal Oak Foundation in the United States. The organization employs 8,746 people and maintains the General Pool Investment Portfolio valued near 2 billion USD. It owns operating subsidiaries including National Trust (Enterprises) Limited and Historic House Hotels Limited. In November 2024 the Trust held its Annual General Meeting to review conservation spending and governance. The Trust differs structurally from typical endowments through 100 percent ownership of multiple operating businesses that generate revenue while advancing its conservation mandate, alongside founding membership in the International National Trusts Organisation.

## Sectors

- Real Estate
- Infrastructure
- Renewable Energy

## People

- Hilary McGrady — Director-General

## Questions

### Who runs investment decisions at The National Trust?

Hilary McGrady serves as Director-General while René Olivieri chairs the Board of Trustees. External managers including Legal & General Investment Management and Cambridge Associates handle portions of the General Pool.

### Does The National Trust participate in fund commitments or only direct deals?

The Trust holds a 10.2 percent allocation to private equity and maintains limited partnership interests such as Livingbridge Enterprise 3 alongside direct ownership of land and operating companies.

### What asset classes does The National Trust deploy capital into?

Allocations include private equity, renewable energy infrastructure, and public equity funds managed by third parties. Direct real estate and land holdings form the largest category by area.

### Where does The National Trust maintain geographic exposure?

Core holdings lie in England, Wales and Northern Ireland. The Royal Oak Foundation extends support and fundraising activity into the United States.

### How is The National Trust related to its operating subsidiaries?

The Trust owns 100 percent of National Trust (Enterprises) Limited, National Trust (Renewable Energy) Limited and Historic House Hotels Limited, which generate revenue to support conservation.

## Related profiles

- [Georgia Tech Foundation](https://altss.com/profile/georgia-tech-foundation)
- [Pantheon International](https://altss.com/profile/pantheon-international)

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

Canonical page: https://altss.com/profile/the-national-trust

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology