Bates will shift its endowment management to the full-service investment firm Investure, effective March 1, 2025, Bates President Garry W. Jenkins announced.
“The decision to partner with Investure follows an extensive review by the Board of Trustees’ Committee on Investment and reflects a dynamic, ongoing commitment to the stewardship of our endowment — an essential resource that supports Bates’ ability to provide an outstanding educational experience,” said Jenkins.
“After conducting a thorough assessment of potential partners, we believe Investure is the best choice for Bates. Their incredible expertise, combined with a culture rooted in deep appreciation for their clients’ missions, promises a stable, productive partnership that aligns perfectly with our long-term goals.”
The shift in the college’s Outsourced Chief Investment Officer (OCIO) to Investure aims to position the Bates endowment, whose market value stood at $446.8 million at the close of the fiscal year on June 30, 2024, for long-term, sustainable growth. This in turn supports the college’s mission by funding financial aid, faculty support, and other critical aspects of how Bates supports all students for success.
Endowment: The Long View
For generations, the Bates endowment has been both a protective moat and a waterfall —powering the college’s enduring excellence. Discover how its growth shapes the future of our students, faculty, and campus.
Founded in 2003, Investure is an independent, employee-owned firm serving a select group of colleges, universities, and private foundations. As of December 2024, Investure manages approximately $19 billion in assets. The firm’s client roster includes Haverford, Macalester, and Middlebury colleges, and private foundations like the Carnegie Endowment for International Peace, the Henry Luce Foundation, and the National Academy of Sciences.
“Investure brings a strong track record of managing endowments, providing access to top-tier investment opportunities with a focus solely on institutional clients,” said Geoffrey Swift, vice president for finance and administration and treasurer.
“Investure’s expertise makes them an excellent partner for Bates. With Investure, we have a partner who not only shares our values but also brings the scale and sophistication necessary for our future needs. Moving forward, we are particularly pleased to work with Investure due to their unique focus on a limited number of institutional clients, coupled with an excellent track record.”
The Board of Trustees’ Committee on Investment will continue to have primary oversight of the college’s endowment, and Investure will work with the college’s finance and accounting office for day-to-day operations. The college’s investment commitments as stated in the Sustainability Roadmap remain unchanged. “Investure’s experience in this space supports Bates’ values without compromising long-term growth objectives,” said Swift.
“I extend special thanks and appreciation to the members of the Board’s Investment Committee, whose expertise and strategic insights guided a rigorous selection process to identify the right OCIO partner for Bates,” said Jenkins.
“We look forward to a strong relationship with Investure as we seek to grow the endowment and its capacity to contribute to the college’s operating budget through strong risk-adjusted investment performance, generous philanthropy, and sustainable spending.”
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