Lehigh University - Message Points

1. You allocate to a globally diversified mix of external managers and the Investment Office directly hires, monitors, and terminates managers.

As an entrepreneurial, owner-managed boutique, we fit your model of partnering with external managers and can slot into your global equities/hedge fund roster.

Evidence

“The Investment Office is responsible for carrying out investment policy by investing the portfolio in a globally diversified mix of external managers, including equity, fixed income, hedge funds, private equity, and real assets.” “The Investment Office is responsible for the day-to-day operations of the investment program, which includes hiring, monitoring and terminating investment managers.”

2. You explicitly target global public equity exposure and reference a Global 60/40 benchmark.

Our concentrated best-ideas, global mandate (with EM capability) aligns with your global equity objective and performance context.

Evidence

“(1) This category’s primary objective is to capture the returns of publicly traded equities on a global market basis in order to provide long-term growth to the endowment.” “Global 60/40”

3. You seek skill-based active management in marketable securities that delivers a diversifying, low-correlation return stream.

Our high-conviction, low-correlation strategy is built to exploit inefficiencies and diversify equity beta, matching your absolute return objectives.

Evidence

“(2) The primary objective of this category is to capture the returns associated with skill-based active management by exploiting the inefficiencies associated with marketable securities, thus providing a diversifying return stream with low correlation to returns of stocks.” “Alternative investments: Public equity 286,954 461,077 Absolute return 504,919 505,175”

4. You maintain a long-term, growth-oriented investment approach for a perpetual asset.

Our long track record and patient, concentrated approach are designed for long-horizon compounding and equity-like growth.

Evidence

“The Endowment is a long-term perpetual asset. Therefore, the investment program maintains a long-term focus.” “The policy should maximize "growth" assets to the fullest extent allowed by Lehigh's risk tolerance, since growth assets such as equities tend to outperform other assets over the long run.”

5. You are comfortable investing via NAV-based commingled vehicles and with a range of liquidity terms, including quarterly notice and lock-ups.

We operate a commingled fund with institutional reporting and standard quarterly liquidity terms, fitting your structural and liquidity preferences.

Evidence

“Investments are reported at fair value or NAV as a practical expedient to fair value.” “Qtr - Up to 2 years 60 - 90 days” “Generally not eligible”

6. You target managers who can exceed benchmarks and peers on a net-of-fees basis and meet real-return goals.

Our high-conviction, alpha-driven approach is designed to outperform global benchmarks and peer groups net of fees.

Evidence

“To monitor the effectiveness of the investment strategy of the endowment pool, performance goals are established to exceed the expected real rate of return, established benchmark indices, and the median return of comparable endowment funds.” “Performance is net of all fees and expenses.”

7. Your policy allows any reasonable investment if the total-portfolio risk/return tradeoff is prudent.

Our flexible global mandate, including emerging markets, can serve as a differentiated, unconstrained sleeve within your prudent total-portfolio framework.

Evidence

“Therefore, any reasonable investment may be considered for endowment pool assets as long as the risk and return tradeoff of the entire portfolio is prudent.”