# University of Notre Dame

University of Notre Dame is a Private Catholic research university based in Notre Dame, United States.

## Overview

- **Organization type:** Private Catholic research university
- **Headquarters:** Notre Dame, United States
- **Region:** North America
- **Address:** Notre Dame, Indiana, United States
- **Founded:** 1842
- **Assets under management:** Notre Dame endowment ~$20B (per NACUBO, 2021)
- **Website:** nd.edu
- **LinkedIn:** https://www.linkedin.com/school/university-of-notre-dame

## Regulatory record

- **Reports private funds:** No

## About

The University of Notre Dame endowment was founded in 1842 alongside the university. Its modern investment office was shaped under Scott Malpass, who became CIO in 1989. Malpass retired in June 2021, succeeded by Robert Mendoza as interim CIO (per the university, 2021). The wealth originates from tuition, donations, and the university's Catholic mission, not a single founding fortune. The endowment's strategy spans private equity, venture capital, real assets, hedge funds, fixed income, and public equities. Notre Dame has been a noted investor in venture capital funds like Sequoia Capital and Accel, and holds direct positions in companies such as Facebook, pre-IPO). Geographic exposure is primarily North America, with some allocations to Europe and Asia via fund managers. The office uses a mix of fund-of-funds, direct co-investments, and separate accounts. With over $20 billion in assets, Notre Dame's investment team numbers roughly 20-30 professionals. It maintains offices in Notra Dame, Indiana, and previously had an office in New York. The endowment has no separate philanthropic foundation; it supports the university directly. A dated event: June 2021 saw Malpass's retirement after 32 years (per the University of Notre Dame, June 2021). Notre Dame's structural differentiator is its multi-manager model with a heavy tilt toward venture capital and private equity, allocating over 70% to alternatives in some years (per NACUBO). The endowment also benefits from a long-tenured investment committee and a culture that prioritizes capital preservation over signaling.

## Sectors

- Private Equity
- Venture Capital
- Real Assets
- Hedge Funds
- Fixed Income
- Public Equities

## People

- Scott Malpass — Vice President and Chief Investment Officer (retired, June 2021)
- Robert Mendoza — Interim Chief Investment Officer (as of 2021)

## Questions

### Who runs investment decisions at the University of Notre Dame endowment?

The endowment's investment decisions were led by Scott Malpass as Vice President and Chief Investment Officer from 1989 to June 2021. As of retirement, Robert Mendoza serves as interim CIO. The investment committee, composed of alumni and trustees, provides oversight (per the university).

### Does the endowment participate in direct investments or only fund commitments?

The endowment uses both fund commitments and direct co-investments. It has historically invested directly in companies such as Facebook pre-IPO (per SEC filings). Most of its alternative exposure comes through fund-of-funds and partnership structures.

### How is the Notre Dame endowment structured for governance?

The endowment is overseen by the Board of Trustees, which delegates investment authority to an investment committee. The CIO and investment team operate the day-to-day portfolio. There are no separate philanthropic entities; the endowment directly funds the university.

### What is the size of the Notre Dame endowment?

As of fiscal year 2021, the endowment was valued at approximately $20 billion (per NACUBO). It is one of the largest university endowments in the United States.

### What asset classes does the endowment explicitly avoid?

The endowment has no stated prohibitions, but its allocation strategy strongly favors private equity and venture capital over fixed income and public equities in recent years. It avoids investments that conflict with the Catholic mission, such as those in certain sectors (e.g., abortion-related) (per the university's investment policy).

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- [SGI](https://altss.com/profile/sgi)
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Last updated: 2026-06-03T20:00:00.000Z

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