UC Berkeley’s endowment provides a steady, long-term source of funding upon which our excellence relies for generations to come. Last year its overall value increased from $3.8 billion to $4.3 billion and generated a total payout of $152.2 million, which directly impacts our faculty, students, and research.
As a new era begins with Chancellor Carol T. Christ at the helm, the endowment will become increasingly valuable to helping her achieve her goals. These include enhancing the student experience with expanded housing and greater research opportunities, enabling faculty to develop innovations that benefit the public good, and increasing and diversifying revenue sources.
Another key change also signaled a new phase for our endowment investing. The Berkeley Endowment Management Company (BEMCO) this fall named David McAuliffe as its president and chief investment officer. McAuliffe will manage the portion of the endowment invested through the UC Berkeley Foundation (UCBF), currently valued at $1.8 billion. (The UC Regents oversees the other part of the endowment, currently valued at $2.5 billion.)
“We’re confident that David possesses the strategic vision, investment acumen, and leadership skills that will ensure the continued growth and success of the UCBF’s endowed funds,” says Rob Chandra, chair of the BEMCO board.
McAuliffe calls it a “great honor” to help build on the success of BEMCO. “This intergenerational impact is very powerful and is deeply motivating,” he says.