CHARLOTTE – The Charlotte-headquartered endowment management firm Global Endowment Management, LP disclosed nearly $1 billion in total funding across five investment funds this week.
That includes $592,388,198 in funding from five entities with the funding type noted in an SEC filing as “pooled investment fund interests” for a fund called GEM Green Endowment Fund, LP.
The company, which on Wednesday, declined to comment for this story, describes its approach on its website as follows: “We invest to generate long-term, real returns that support our client investors’ spending needs today and create additional value for future generations. To achieve these goals we must carefully mitigate risk and avoid significant investment loss. As investors behind the investors, the GEM team brings hands-on, time-tested endowment management skills, giving us an advantage in identifying talented managers and understanding the likely drivers of their performance.”
The company’s website lists as clients Elon University, Johnson C. Smith University, the Rhode Island School of Design, Germantown Friends School, and The Park School, among other educational institutions. The firm also has listed as clients the College Futures Foundation, Special Olympics, and The Winston-Salem Foundation. RTI International and The Aspen Institute are also listed as clients on the firm’s website.
The organization does provide opportunities to invest capital with a focus on impact investing, according to its website, which states “we work with our clients to help generate positive social and environmental returns alongside investment performance.”
Chapel Hill-based TrueBridge Capital Partners’ raises $600M Fund VI
Other funds
A second SEC filing affiliated with the firm is listed under the name “VHS Fund, a Series of Global Endowment Targeted Strategy Fund, LP” and indicates that two investors have put in a total of $209,881,376. The fund could continue to receive additional investment indefinitely, according to the filing.
Three additional filings are for $66,450,000 from six investors for an entity stated as GAF-BO, LP, $66,200,000 from 18 investors for an entity stated as GAF-VC, LP, and $33,000,000 from 17 investors for an entity GAF-RE, LP.
Each filing lists J. Porter Durham, Jr. as the entity’s executive officer. J. Porter Durham, Jr. is the managing partner of Global Endowment Management, LP, according to the company’s website.
A biography on the firm’s website notes that Durham joined the firm in May 2007, and includes the following statement: “Previously, he served as Staff Counsel and Director of the Education Division of The Duke Endowment, as well as Chairman of the Corporate and Securities Department at Baker Donelson law firm. He is currently chair of the Duke Law School Board of Visitors and serves as a trustee of the National Humanities Center, the Charlotte Center for Legal Advocacy, the Oxford American Literary Project, and Trinity Episcopal School[.] He is a former trustee of Johnson C. Smith University. He graduated cum laude from Duke University and Duke University School of Law.”
The company’s chief financial officer and chief compliance officer, Rich Abraham, told WRAL TechWire that the company was “unable to comment on our private funds” and directed our reporters to the firm’s website.
What is ESG (environmental, social, and governance) investing? Kenan Institute says …
