The Investment Subcommittee of the Finance and Facilities Committee of the Board of Trustees is responsible for executing the requirements of the Pooled Endowment Investment Policy, including the hiring of an external investment manager. The Investment Subcommittee has retained Perella Weinberg Partners as its external investment manager/outsourced chief investment officer (OCIO) to provide day-to-day management of an increasingly diverse, global, and complex investment portfolio on a discretionary basis within the confines of Puget Sound’s Pooled Endowment Investment Policy.
Perella Weinberg Partners serves as a co-fiduciary with the board of trustees for the Endowment, providing careful, disciplined stewardship, and continuous oversight that includes both strategic and tactical management of the investment portfolio. Puget Sound’s arrangement with Perella Weinberg Partners provides the university with extensive expertise, disciplined due diligence, and access to top tier investment managers in a commingled investment strategy. Commingled investment funds consist of assets from several investors that are combined together under a common investment management strategy to enable investors to benefit from economies of scale, which allow for lower trading costs and lower underlying manager fees, greater diversification, and wider selection of professional investment managers that are often available to only much larger endowments. With access to commingled investment funds, the Endowment is invested with 100 different managers.