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University of St. Thomas (Minnesota)
Founded in 1885 by Archbishop John Ireland, the University of St. Thomas has grown into Minnesota's largest private university, operating across three campuses...
University of St. Thomas (Minnesota)
Founded in 1885 by Archbishop John Ireland, the University of St. Thomas has grown into Minnesota's largest private university, operating across three campuses in Saint Paul, Minneapolis, and Rome. Its endowment supports a Catholic intellectual mission that U.S. News & World Report ranks among top national universities. The investment office, led by CIO Sonali Dalal, answers to an Investment Committee chaired by Andrew Duff; oversight sits with CFO Mark Vangsgard and a board chaired by Jodeen A. Kozlak. Dalal's office deploys capital across private equity, private credit, hedge funds, and real estate. The university's direct real estate footprint includes the Lee and Penny Anderson Arena and the Schoenecker Center on the Saint Paul campus, alongside commercial property in Minneapolis and the Bernardi Campus in Rome. The endowment also houses the student-managed Aristotle Fund, a long-running experiential portfolio. Sector commitments stretch beyond campus property: the institution counts membership in the Intentional Endowments Network, signaling an allocation tilt toward sustainable investing. Altss estimates endowment assets near $700M, a figure the university does not publish. The scale places St. Thomas among the larger Catholic university endowments in the Midwest, yet it operates without a separate foundation overlay for its investment activities. The professional network extends through the Associated Colleges of the Twin Cities consortium, while the AshokaU Changemaker Campus designation reinforces a thematic lens on social innovation that likely influences manager selection. May 2026: The university graduated its Class of 2026 across multiple commencement ceremonies on the Saint Paul campus. St. Thomas structures its investment function as an in-house endowment office rather than outsourcing to an OCIO — a structural differentiator among mid-sized Catholic universities that often pool assets. The Investment Committee's inclusion of a former public-company CEO and a board chair with independent capital-markets experience creates an unusual governance layer for an institution this size.
General information
Firm type
Endowment / Foundation
Year founded
1885
Location
Region
North America
Country
United States
City
Saint Paul
Corporate office
2115 Summit Ave, Saint Paul, MN 55105, United States
Additional offices
Minneapolis, MN, United States · Rome, Italy
Principals
Rob Vischer
President
Altss tracks 4 additional named team members for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
Who runs investment decisions at the University of St. Thomas?
Vice President and Chief Investment Officer Sonali Dalal leads the in-house investment office. Her team operates under the guidance of an Investment Committee chaired by Andrew Duff, the former CEO of Piper Sandler. Mark Vangsgard serves as CFO, and Jodeen A. Kozlak chairs the Board of Trustees.
Is the University of St. Thomas endowment managed internally or by an OCIO?
St. Thomas runs its investments through an internal CIO-led office rather than delegating to an outsourced chief investment officer. This in-house model is unusual among mid-sized Catholic universities, many of which pool assets or outsource management to capture scale.
How large is the University of St. Thomas endowment?
The university does not publicly disclose its endowment's exact market value. Altss estimates the portfolio at just under $700 million, based on a review of comparable Catholic university endowments and the institution's real asset footprint.
What does the endowment invest in?
Confirmed asset-class exposures include private equity, private credit, hedge funds, and real estate. The university holds direct property on its Saint Paul and Minneapolis campuses, as well as the Bernardi Campus in Rome, and operates the student-managed Aristotle Fund.
Does the University of St. Thomas incorporate ESG or sustainability factors into its investments?
The university is a member of the Intentional Endowments Network, a professional community focused on sustainable endowment investing. The campus has also earned a STARS Gold rating for sustainability performance, suggesting environmental and social governance factors inform institutional decision-making.
How is the endowment governed?
Governance runs through a layered fiduciary structure. The Board of Trustees, chaired by Jodeen A. Kozlak, holds ultimate authority. The Investment Committee, chaired by former Piper Sandler CEO Andrew Duff, oversees asset allocation and manager selection, with day-to-day execution resting with CIO Sonali Dalal.
What is the Aristotle Fund?
The Aristotle Fund is a student-managed investment portfolio housed within the University of St. Thomas. It functions as an experiential learning vehicle, giving students hands-on exposure to equity research and portfolio management under faculty supervision.
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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