Wesleyan University - Message Points

1. You prefer manager-driven, benchmark-agnostic, fundamental stock-picking over index replication.

Our concentrated, high-conviction portfolio is built for active, non-benchmark-hugging alpha generation—exactly the style you want to underwrite.

Evidence

“anchored in manager-driven, benchmark-agnostic investing, diversified across styles and geographies, and oriented toward fundamental stock selection rather than index replication.” “This does not mean we should abandon manager-driven investing or begin index replication.”

2. You seek specialist/boutique managers and build enduring partnerships with them.

We are an entrepreneurial, owner-managed firm running a focused best-ideas strategy in defined niches—a strong fit for your specialist, long-term manager model.

Evidence

“As financial markets have grown more complex and competitive, the endowment has embraced a model of partnering with investment managers who specialize in distinct niches.” “we allocate capital to managers who focus exclusively on specific market segments, leveraging their expertise and experience to outperform market indices over the long term.” “enduring partnerships with talented investment managers.”

3. You maintain a sizable allocation to absolute return strategies to deliver diversification and opportunistic returns when traditional assets struggle.

Our low-correlation return profile and hedged, idiosyncratic alpha can complement your absolute return bucket.

Evidence

“Absolute return 285,819 — — — 285,819” “Absolute return strategies play a different role: They are designed to provide diversification and opportunistic return generation in environments where traditional asset classes may struggle.”

4. You’ve consolidated into a single global equity portfolio and benchmark to global indices to better capture global growth.

We run a global mandate with flexibility across regions and market caps, aligning with your global framework and MSCI ACWI orientation.

Evidence

“We have consolidated our public equity categories into a single global equity portfolio, improved liquidity planning, decreased equity exposure within absolute return mandates, and remained disciplined in private market pacing.” “3 70% MSCI All Country World Index and 30% Bloomberg Barclays U.S. Aggregate Bond Index” “But we must thoughtfully evaluate whether the portfolio’s public equity structure adequately captures the most significant sources of global growth, especially when those sources become increasingly concentrated.”

5. You actively allocate to and assess Emerging Markets managers against MSCI EM, with country tilts (China/India) impacting results.

Our EM capability and country-specific research can target the drivers you monitor and benchmark against.

Evidence

“Emerging Markets Equity 3.6 2.8 0.8 MSCI Emerging Markets” “Emerging markets equities gained just shy of 9.9%, though they lagged their benchmark significantly: Exposures to China helped buoy performance while investments in India dragged down returns.”

6. You are comfortable investing via LPs/commingled funds with NAV valuation, lockups/side pockets, and long-dated commitments.

Our concentrated approach can include less-liquid positions; your tolerance for standard hedge fund liquidity terms and NAV-based vehicles is a fit.

Evidence

“Most of the University’s investments are held through limited partnerships and commingled funds for which fair value is estimated using net asset values (NAVs) reported by the fund managers as a practical expedient.” “Certain funds contain lockup provisions... A portion of the underlying investments... may include private or side-pocket investments from which the University may not have an ability to redeem.” “The aggregate amount of unfunded commitments associated with investments as of June 30, 2025 was $341,316.”

7. You evaluate performance over long horizons and favor managers who’ve navigated multiple cycles.

We have a long track record through varied regimes and manage to compounding over multi-year periods rather than chasing one-year optics.

Evidence

“to build an investment program with a long-term horizon” “While annual results matter, one-year performance is inherently volatile... It is not the lens through which endowment stewardship should ultimately be judged.” “We are well-positioned through partnership with many long-standing managers who have successfully navigated multiple cycles.”

8. You’ve embedded AI-focused evaluations into manager underwriting and discuss AI in nearly every manager meeting.

If helpful, we can outline how our research process leverages data/AI tools alongside fundamental work—aligning with your diligence priorities.

Evidence

“We have embedded AI-focused evaluations into our underwriting of both existing and prospective managers.” “This year, discussions about AI featured prominently in nearly every manager meeting.”