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UCLA Investment Company
UCLA Investment Company manages the $3.9B UCLA Endowment and affiliated funds from Los Angeles, operating as an independent captive asset manager since...
UCLA Investment Company
Founded in 2011 as a subsidiary of the UCLA Foundation, the UCLA Investment Company formalized the investment management function previously housed within the university's treasury operations. It serves as the primary fiduciary for the UCLA Endowment alongside pools managed for the UCLA Alumni Association, the Jonsson Comprehensive Cancer Center, and the Hammer Museum. The creation of a separate management company brought UCLA in line with the governance model adopted by peer institutions like the University of Texas and the University of Michigan. The office pursues a multi-asset strategy spanning global public equities, fixed income, absolute return strategies, private equity, venture capital, real estate, and natural resources. The endowment's portfolio is characterized by a significant tilt toward alternative assets, a common posture among large university endowments seeking inflation protection and uncorrelated returns. While specific direct investments are not publicly cataloged, the portfolio gains exposure to private markets primarily through fund commitments and co-investments managed by external GPs across North America, Europe, and Asia. The investment team operates from Los Angeles with a lean professional staff, reporting to a board of directors appointed by the UCLA Foundation. Recent leadership transitions have shaped its current governance: Jagdeep Singh Bachher, a veteran of the University of California system, was appointed Chief Investment Officer and President following a search in 2023 (per UCLA, September 2023), bringing continuity from his prior role as Deputy CIO at the UC Regents. The office also manages adjacent relationships, including investment oversight for the Hammer Museum's endowment and specific restricted gifts to the Jonsson Cancer Center. The firm's structural differentiator lies in its position within a confederated public university system. Though captive to UCLA, the investment company operates independently from the University of California Regents' $180 billion-plus pool, making its own asset allocation and manager selection decisions. This independence allows for a tailored liability profile matched to UCLA's specific campus and medical center obligations, distinct from the broader UC system's centralized investment apparatus.
General information
Firm type
Generalist
Year founded
2011
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Sector focus
Frequently asked questions
Who runs investment decisions at UCLA Investment Company?
Jagdeep Singh Bachher leads the office as President and Chief Investment Officer, a role he assumed in September 2023. He previously served as Deputy CIO at the University of California Regents, where he helped manage a multi-billion-dollar portfolio across pension and endowment assets. The investment committee of the board of directors retains ultimate governance authority over asset allocation policy.
How does UCLA Investment Company source its private market opportunities?
The firm primarily accesses private equity, venture capital, real estate, and natural resources through external fund commitments and selective co-investment structures. It does not operate as a direct investor in operating companies. Manager relationships are built through institutional networks, peer endowment referrals, and the due-diligence processes common among large university allocators.
Is UCLA Investment Company part of the University of California's centralized investment office?
No. The UCLA Investment Company operates independently from the UC Regents' Office of the Chief Investment Officer, which manages system-wide pension and endowment assets. UCLA's 2011 decision to form a separate subsidiary gave the campus fiduciary control over its own endowment, allowing for a distinct asset allocation, manager roster, and spending policy tailored to UCLA's specific obligations.
What entities does the firm invest for?
The managing company oversees the UCLA Endowment, which supports faculty chairs, scholarships, research programs, and campus operations. It also manages portfolio assets for the UCLA Alumni Association, the Jonsson Comprehensive Cancer Center's restricted gifts, and the Hammer Museum's endowment. These affiliated pools operate under separate investment policy statements but share the same management team.
How is the investment office governed?
The UCLA Investment Company is a California nonprofit public benefit corporation and a subsidiary of the UCLA Foundation. A board of directors, appointed by the Foundation, provides governance and includes members with investment and finance expertise. The investment committee within the board holds specific responsibility for portfolio oversight, manager selection review, and annual spending-rate recommendations.
What is the firm's known posture on co-investments alongside external GPs?
The office participates in co-investment opportunities as part of its private markets program, a strategy designed to reduce fee drag and increase exposure to specific assets. Co-investments are typically sourced through existing fund manager relationships. The program's scale and pacing are calibrated to maintain target allocation bands within the broader endowment portfolio.
What investment stages and geographies does the portfolio cover?
The endowment allocates across public equities, fixed income, hedge funds, private equity, venture capital, real estate, and natural resources. Geographic exposure spans North America, Europe, and Asia, consistent with the global benchmarks used by large university endowments. The private equity and venture programs access buyout, growth-equity, and early-stage funds through diversified GP commitments.
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