# VCU Investment Management Company (VCIMCO)

VCU Investment Management Company (VCIMCO) is an Endowment / Foundation based in Richmond, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Richmond, United States
- **Region:** North America
- **Address:** 413 Stuart Circle Suite #210, Richmond, VA 23220, United States
- **Founded:** 2015
- **Assets under management:** 2000 (Altss estimate)
- **Website:** vcimco.com
- **LinkedIn:** https://www.linkedin.com/company/vcimco

## Regulatory record

- **Reports private funds:** No

## About

VCIMCO was established in 2015 under Virginia law to manage endowment assets for Virginia Commonwealth University and its affiliates. Bruce MacDonald serves as CEO and CIO after prior roles at UVIMCO and Columbia University. The structure separates investment management from the university's academic and clinical operations while tying performance directly to budget support. The firm deploys capital across hedge funds, private equity, real estate, and natural resources. Confirmed holdings include the Ram Fund, LP valued at $109 million and the Ram Private Assets Fund, LP valued at $22 million. It maintains a position in iShares Gold Trust reported at $85 million in 13F filings as of December 2025. Geographic exposure centers on the United States with additional residential leases in Doha, Qatar. Direct real estate ownership covers multiple Richmond commercial and land parcels held through the VCU Real Estate Foundation. The team numbers 11 professionals. VCIMCO maintains relationships with five university-linked foundations including the VCU Foundation and MCV Foundation. In December 2024 the firm appeared on the Capital Allocators Podcast to discuss operations, technology infrastructure, and outsourcing. Northern Trust has served as custodian since 2016 with additional providers added in 2024 for performance reporting and private portfolio monitoring. VCIMCO operates as a university-specific endowment manager rather than a multi-client family office or fund complex. Its board includes members with prior experience at AllianceBernstein, Partners Group, and Makena Capital, providing governance oversight separate from day-to-day investment execution.

## Sectors

- Real Estate
- Private Equity
- Hedge Funds
- Natural Resources

## People

- Bruce MacDonald — CEO and Chief Investment Officer
- John A. Luke, Jr. — Chairman of the Board of Directors
- Michael Peltier — Chief Operating Officer

## Questions

### Who runs investment decisions at VCIMCO?

Bruce MacDonald serves as CEO and Chief Investment Officer. Michael Peltier serves as Chief Operating Officer with responsibility for operations and technology.

### Does VCIMCO participate in fund commitments or only direct deals?

The firm holds both commingled vehicles such as the Ram Fund, LP and Ram Private Assets Fund, LP and direct real estate assets through the VCU Real Estate Foundation.

### What is VCIMCO's known posture on co-investments alongside external GPs?

No co-investment activity is disclosed in available records. Allocations appear concentrated in manager-of-managers vehicles and direct property ownership.

### How is VCIMCO related to Virginia Commonwealth University?

VCIMCO was incorporated to serve as the university's dedicated investment manager with the explicit goal of increasing financial strength and supporting the operating budget.

### Which sectors does VCIMCO explicitly avoid?

No explicit avoidance policy is stated in public materials or the research record.

## Related profiles

- [Trinity University Endowment](https://altss.com/profile/trinity-university-endowment)
- [Whirlpool Corporation](https://altss.com/profile/whirlpool-corporation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/vcu-investment-management-company-vcimco

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