University at Buffalo Foundation

University at Buffalo Foundation

The University at Buffalo Foundation was established in 1962 to manage endowment assets and real property on behalf of the State University of New York at Buffalo. Steven H. Shepsman chairs the board; Satish K. Tripathi serves as an ex officio trustee in his capacity as university president. The foundation maintains a long-term portfolio with target weights of 40 percent global equities, 10 percent fixed income, and 18 percent hedge funds. It also holds limited-partner interests in EnCap Flatrock Midstream and Commonfund vehicles. Direct real-estate holdings include multiple student-housing complexes on the North Campus in Amherst, New York, plus the Anderson Gallery and Butler Mansion in Buffalo. All properties are held through wholly owned affiliates such as UBF Faculty-Student Housing Corp. and FNUB, Inc. Assets under management stand at $1.4 billion. The foundation employs Cambridge Associates as investment advisor and BNY Mellon Trust Company as custodian. In September 2025 it sponsored the Inclusive Excellence Summit on the Buffalo campus. Governance is structured through a board of trustees whose members are drawn from university leadership and local business figures, creating a direct reporting line to the institution rather than to external family principals or limited partners.