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DUMAC (Duke)

Duke's investment office, an endowment-model venture LP.

Institutional LP CapitalFirmGlobal
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Target market
Venture and private-markets managers across the size spectrum
Typical check
Endowment-scale fund commitments
Geography
Global

Overview

DUMAC manages Duke University's endowment along with related university and health-system pools, investing across public and private markets through external managers. Like its endowment peers it carries meaningful venture exposure and prefers long relationships over one-off commitments. DUMAC is a realistic target for managers a notch below the mega-franchises: it diligences carefully, values referenceable LP peers, and has appetite for differentiated strategies that the largest allocators are too big to bother with.

Key facts

  • Formed in 1998 to manage Duke University's investment assets
  • Invests the endowment plus related health-system and retirement pools
  • Endowment-model allocator with real venture exposure
  • Based in Durham, North Carolina

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