University of San Francisco

University of San Francisco

The University of San Francisco, founded by the Jesuits in 1855, built its $566 million endowment through a blend of institutional fundraising and deep philanthropic ties to Silicon Valley and San Francisco real estate. John A. Sobrato, the prominent developer behind The Sobrato Organization, made the largest individual gift in the university's history at $15 million, establishing a giving level that shapes the endowment's character today. The portfolio is managed under the oversight of the Board of Trustees and its Endowment Investment Committee, chaired by Dave Schrader, a partner at Ohana Advisors. Stacy Lewis Daher, USF's Associate Vice President for Finance and Treasury, handles the day-to-day portfolio management, ensuring the endowment serves as a permanent funding source for student aid, faculty positions, and academic programs. The endowment deploys capital across a diversified mix of asset classes. Real estate forms a distinct core, anchored by direct ownership of the Folger Building at 101 Howard Street in San Francisco's financial district and the Lone Mountain Campus. The portfolio also extends into agricultural land through Star Route Farms in Bolinas and the Coachella Valley, an operational organic farm. Beyond real assets, the endowment allocates to private equity strategies including buyout, growth, mezzanine, and distressed debt, alongside venture capital spanning seed to late-stage investments. The investment committee also oversees a student-managed fund and the Student Investment Club Portfolio, giving undergraduates direct exposure to public and private market investing (per Altss estimate). Geographic exposure concentrates in North America, primarily the San Francisco Bay Area, reflecting the university's location and donor network. The investment committee blends trustee experience with outside investment expertise. Trustee Jeff Silk, Co-CIO of Fisher Investments, serves on the committee alongside his role as a major donor to the Silk Family Investment Institute housed at USF. The broader network includes institutional peers through the National Association of College and University Business Officers, which provides endowment management benchmarking. In September 2023, the university deepened its commitment to finance education with the continued expansion of the Silk Family Investment Institute, a university center that bridges academic research with the endowment's practitioner network (per Altss research). What distinguishes the USF endowment is its real asset density — it is one of a small number of university endowments that owns and operates a working organic farm, Star Route Farms, directly within its portfolio. This is not a passive reit allocation but an operational asset, complementing the commercial office building at 101 Howard and residential holdings like Lone Mountain East. The structure reflects a Jesuit university's decision to hold, rather than outsource, direct real property as part of its multi-generational capital base.