How University Endowments Invest | Private Equity & Institutional Strategy

Описание: In this special “On the Road” episode of the Dakota Live! Podcast, Robert Morier travels to the University of Tennessee in Knoxville for a live CIO panel discussion on endowment management, private equity, private credit, asset allocation, and manager research & due diligence.
Featuring:

• Rip Mecherle, CIO, University of Tennessee System ($1.8B endowment)
• Cathy Ulozas, CIO, Drexel University
• Bridget Sproles, Partner & Co-Head of Healthcare Practice, Cambridge Associates
• Ryan Farley, Professor and Director, Torch Fund Program, University of Tennessee

Recorded in front of students from Drexel University and the University of Tennessee, this episode explores how institutional investors think about:

• Endowment portfolio construction (public vs. private markets)
• Private equity allocation strategy and long-term commitments
• The risks and realities of private credit in today’s market
• How CIOs underwrite managers and assess integrity, culture, and risk
• Teaching students to think like real-world investors

The panel also shares candid career lessons — including trading mistakes, surviving market crises, and the importance of adaptability in finance.
If you’re interested in institutional investing, asset allocation strategy, manager due diligence, endowment management, OCIO relationships, hedge funds, private markets, or building a career in investment management, this conversation is essential listening.
Learn how top CIOs make capital allocation decisions under uncertainty — and how students can prepare to enter the world of institutional asset management.

Cathy Ulozas:   / catherineulozas  

Bridget Sproles: https://www.cambridgeassociates.com/p...

Ryan Farley:   / ryan-farley-66b7205  

Robert Morier:   / robertlmorier  

Our Website: https://dakota.com

University of Tennessee:

Drexel University: https://drexel.edu/

Cambridge Associates: https://www.cambridgeassociates.com/

🎙️ Listen to the Podcast:

Spotify: https://open.spotify.com/show/3NUXRMz...

Apple Podcast: https://podcasts.apple.com/us/podcast...

00:00 Intro
01:34 On the road in Knoxville
04:26 An experience on the road
08:35 Relationships
14:13 UT office structure
17:28 Drexel University structure
20:09 LP + advisor relationship
25:00 Drexel as an anchor institution
28:05 Re-underwriting
31:32 Manager research and due diligence
33:00 Starting the underwriting process
36:10 It starts with an interview
38:20 Is Cathy a contrarian?
40:57 Liquidity
44:57 Assessing personality
47:57 Rip's construction process
51:07 Private credit
54:01 Opportunity outside of the US
54:41 Is Rip looking at Europe?
57:23 2026 outlooks - Cathy
59:24 2026 outlooks - Bridget
1:00:54 2026 outlooks - Rip
1:03:18 Teaching students to think like investors
1:08:08 "You remember what you want to forget"
1:20:03 Outro