On September 12, the Notre Dame Institute for Global Investing hosted David Landry, an investment associate for Investure who primarily focuses on direct investing opportunities.
Investure is a leader in the endowment and foundation investment management industry and has pioneered the full-service outsourced investment office model. They focus on the investment management needs of non-profits and serve as the investment office for a number of prestigious colleges and foundations, managing approximately $13 billion across all asset classes.
Landry presented “Institutional Investing and Portfolio Management,” focusing on explaining the purpose behind the endowment at leading universities.
Graduating from Notre Dame in 2010 with a B.A. in Economics and a minor in Philosophy, Politics, and Ethics, Landry joined a startup hedge fund in southern California after graduation until he found his way to Investure in 2012. He began with Investure as part of their private equity team before transitioning to his current role in direct investments in 2014.
Landry explained that an endowment comprised hundreds of restricted and unrestricted individual gifts, and the earnings on the endowment fund programs and other initiatives at the given college or foundation.
At Notre Dame, Scott Malpass has built a very effective team to manage the endowment of almost $10.5 billion, but not all universities have an endowment management team on campus. Many universities have small or mid-sized endowments, creating the need for the outsourced investment office like Investure.
Gifts to universities funnel to the endowment which in turn get invested. The spending on the endowment goes to support university priority investments such as financial aid, scholarships, professorships, academic programs and research. Investure manages the endowment to generate resources for funding these campus projects.
Landry described Investure’s mission as being “stewards of our clients’ trust” and “protecting and growing their capital so they can expand their collective presence in the world.” They achieve this mission by remaining open to chance, embracing continuous improvement, and serving with transparency and integrity.
He closed the evening by sharing job opportunities at Investure with the student audience, including a summer internship or a full-time three-year analyst program. The application process for these opportunities can be found on GoIrish! with interviews being scheduled in October.