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University of Notre Dame Endowment
The University of Notre Dame's endowment traces its investment origins to the 1980s, when Scott Malpass began building an in-house investment office for the...
University of Notre Dame Endowment
The University of Notre Dame's endowment traces its investment origins to the 1980s, when Scott Malpass began building an in-house investment office for the 1842-founded Catholic research institution. Under Malpass's 33-year tenure as CIO, the fund developed a reputation for disciplined private-market exposure and co-investment partnerships. The pool supports Notre Dame's academic mission by funding student affordability, faculty chairs, and research programs, making it one of the country's most prominent faith-based allocators. Notre Dame's investment posture spans private equity, venture capital, real estate, private credit, hedge funds, and infrastructure, with a documented appetite for direct co-investments and SPVs alongside fund commitments. Sector focuses include healthcare services, climate technologies, industrial tech, and energy transition, with confirmed positions in cryptocurrency-linked venture strategies and a hydroelectric dam facility. The team invests across North America, Europe, Asia, Africa, the Middle East, South America, and Oceania — a genuinely global mandate extending to early-stage startup opportunities in semiconductors, quantum computing, AI/ML, and Web3 infrastructure. The endowment's assets are estimated by Altss research at approximately $20.1 billion, though the university does not publish a current AUM figure. The investment office manages physical assets including Chicago commercial real estate and a geothermal plant on its South Bend campus. The fund's relationship with Catholic Investment Services (CIS), co-founded by former CIO Scott Malpass, extends its co-investment reach among Catholic institutional peers. In July 2024, Tim Dolezal was promoted to Vice President and Chief Investment Officer, formally succeeding the firm's founding-era leadership. What distinguishes Notre Dame's endowment from secular university pools of similar scale is its adherence to Socially Responsible Investment guidelines issued by the U.S. Conference of Catholic Bishops, binding allocation decisions to a doctrinal framework. While many endowment CIOs manage to a purely financial mandate, Dolezal operates within an explicit ethical perimeter — screening for consistency with Catholic social teaching on issues ranging from human dignity to environmental stewardship — adding a governance layer rare among top-quartile institutional investors.
General information
Firm type
Endowment / Foundation
Year founded
1842
Location
Region
North America
Country
United States
City
South Bend
Corporate office
South Bend, Indiana, United States
Principals
Tim Dolezal
Vice President and Chief Investment Officer
Scott Malpass
Former Chief Investment Officer
Michael Donovan
Former Chief Investment Officer and Managing Director of Private Equity
Sector focus
Frequently asked questions
Who runs investment decisions at the University of Notre Dame Endowment?
Tim Dolezal serves as Vice President and Chief Investment Officer, a role he assumed in July 2024. He succeeded Scott Malpass, who built the endowment office and served as CIO for over three decades. Michael Donovan previously oversaw private equity as a Managing Director in the office.
How is the Notre Dame endowment structured compared to a typical university fund?
Notre Dame operates an in-house investment office managing the university's endowment pool, which combines direct co-investments and SPVs with fund commitments across multiple asset classes. The fund is bound by Socially Responsible Investment guidelines from the U.S. Conference of Catholic Bishops, creating an ethical overlay absent at most secular university endowments of comparable size.
Does the Notre Dame Endowment participate in fund commitments or only direct deals?
The endowment deploys capital through both fund-of-funds commitments and direct co-investments, alongside SPV structures in private equity, venture capital, and real assets. Its strategy spans private and public markets, including hedge fund allocations and infrastructure investments such as a hydroelectric dam.
What investment stages and sectors does Notre Dame's endowment emphasize?
The endowment targets early-stage opportunities across healthcare services, climate technology, industrial tech, data analytics, and energy transition. It has also allocated to digital assets, AI/ML, quantum computing, semiconductors, and Web3 through select venture strategies.
How is Catholic Investment Services related to the Notre Dame Endowment?
Catholic Investment Services (CIS) was co-founded by Scott Malpass, Notre Dame's former long-tenured CIO, as a non-profit investment firm serving Catholic institutions. Notre Dame's endowment office maintains a co-investor relationship with CIS, extending its sourcing network among Catholic faith-based allocators.
Does the endowment publish its assets under management?
Notre Dame does not disclose a current AUM figure. Third-party estimates place the endowment pool at roughly $20.1 billion, positioning it among the largest Catholic university investment portfolios.
What real assets does the endowment hold on campus and beyond?
Physical holdings include Chicago commercial property, the McCourtney Research Complex and a geothermal plant on the South Bend campus, the Charles B. Hayes Family Sculpture Park, and the Raclin Murphy Museum of Art collection. A hydroelectric dam facility is also part of the infrastructure portfolio.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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