UNC Management Company (UNCMC)

UNC Management Company (UNCMC)

UNC Management Company was established in 2002 as a 501(c)(3) nonprofit to centralize investment management for the University of North Carolina System. Jonathon King currently leads the firm while Mark Yusko founded the organization and served as its initial CIO before departing to establish Morgan Creek Capital Management. The firm deploys capital through the UNC Investment Fund and an intermediate pool for liquidity management. Allocations target private equity at a 22 percent target weight alongside venture capital, hedge funds, private credit, secondaries, direct co-investments and natural resources. Confirmed holdings include Camden Partners, Columbia Capital, Essex Woodlands Health Ventures and Georgian Partners. Geographic exposure spans North America, Europe and Asia. The organization employs 42 professionals at its Chapel Hill headquarters. It maintains oversight relationships with the UNC Chapel Hill Foundation Investment Fund and provides services to multiple constituent foundations including the Medical Foundation of North Carolina and the Kenan-Flagler Business School Foundation. In January 2024 the firm participated as a speaker at the Fiduciary Investors Symposium on endowment management topics. Governance flows through the UNC Chapel Hill Foundation Investment Fund as controlling member of the UNC Investment Fund. This structure separates day-to-day investment execution at UNCMC from ultimate fiduciary oversight retained by the university system's foundation entities.