# The University of Connecticut Foundation

The University of Connecticut Foundation is an Endowment / Foundation based in Storrs, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Storrs, United States
- **Region:** North America
- **Address:** 2390 Alumni Drive, Unit 3206, Storrs, CT 06269, United States
- **Founded:** 1964
- **Assets under management:** $668 million (Altss estimate)
- **Website:** foundation.uconn.edu
- **LinkedIn:** https://www.linkedin.com/company/the-university-of-connecticut-foundation-inc

## Regulatory record

- **Reports private funds:** No

## About

The University of Connecticut Foundation was incorporated in 1964 as a 501(c)(3) to solicit, receive, and administer private gifts supporting the university's educational and research missions. In 2015, it absorbed the UConn Alumni Association, consolidating fundraising and alumni engagement under one roof. The Foundation's donor base is anchored by high-net-worth individuals, including Elisabeth DeLuca, widow of Subway co-founder Fred DeLuca, whose philanthropy has shaped UConn's biomedical footprint. The Foundation's investment strategy spans venture capital, private equity, private credit, real estate, infrastructure, and digital assets. Capital flows into early-stage companies, buyouts, distressed debt, special situations, and natural resources. Confirmed allocations include cryptocurrency and the Baillie Gifford Asia Ex Japan Fund. The team has explicitly excluded hedge fund strategies from the portfolio. Geographically, investments concentrate in North America, with select Asia-Pacific exposure through fund commitments. David Ford chairs the Investment Committee, while Shahid Farooqi handles day-to-day investment management as Managing Director of Investments. The finance team brings institutional rigor: CFO David Carney previously served as Managing Director at BlackRock. The Foundation actively participates in the Council of Institutional Investors and NACUBO. In 2024, Amy Yancey was appointed President and CEO, succeeding a long-tenured predecessor. Unlike a standalone endowment, the Foundation's architecture intertwines fundraising operations with asset management, giving the investment team a direct line to donor-aligned priorities. This dual mandate—maximizing returns while honoring donor intent—shapes everything from the exclusion of hedge funds to the embrace of mission-aligned sectors like climate technology and healthcare services.

## Sectors

- Digital Health
- ClimateTech
- EdTech
- Energy Transition & Renewables
- InsurTech
- Sports & Wellness
- Healthcare Services
- Industrial Tech

## People

- Amy Yancey — President and CEO
- David L. Carney — Senior VP of Finance & Administration and CFO
- David Ford — Chairman of the Investment Committee
- Shahid Farooqi — Managing Director of Investments

## Questions

### Who runs investment decisions at the UConn Foundation?

The Investment Committee, chaired by David Ford, oversees asset allocation and manager selection. Day-to-day portfolio management is handled by Shahid Farooqi, the Managing Director of Investments. The committee operates alongside the senior finance leadership, including CFO David Carney, who joined from BlackRock.

### Is the UConn Foundation structured as a university endowment or a separate foundation?

It is a legally separate 501(c)(3) foundation that functions as the primary fundraising and endowment-management vehicle for the University of Connecticut. In 2015, the UConn Alumni Association merged into the Foundation, consolidating donor relations, alumni engagement, and asset management under a single entity.

### Does the UConn Foundation invest in hedge funds?

No. The Foundation maintains an explicit exclusion of hedge fund strategies from its portfolio. Its alternative allocations focus on private equity, venture capital, private credit, real estate, infrastructure, and natural resources.

### What investment stages does the UConn Foundation target?

The Foundation invests across the entire lifecycle: early-stage (seed and startup), expansion/late-stage venture, buyouts, distressed debt, secondaries, and special situations. It also holds timberland and other natural resource assets.

### How is the Foundation related to major UConn donors like the DeLuca family?

Elisabeth DeLuca, widow of Subway co-founder Fred DeLuca, is a prominent donor whose philanthropy has significantly supported UConn's biomedical and health sciences programs. The Foundation stewards these gifts and invests endowed funds to generate long-term support for donor-designated purposes.

## Related profiles

- [East Bay Community Foundation](https://altss.com/profile/east-bay-community-foundation-ebcf)
- [Kansas City Public School Retirement System](https://altss.com/profile/kansas-city-public-school-retirement-system)

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

Canonical page: https://altss.com/profile/the-university-of-connecticut-foundation

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