VCU Allocates Half Its Portfolio to U.S. Equities to Match Liabilities
Bruce MacDonald · Bruce MacDonald – The Playbook for Building a Mid-Sized Endowment from Scratch (EP.495) · Apr 6, 2026 · at 36:36
Bruce MacDonald is CIO of VCU Investment Management Company, managing the endowment for Virginia Commonwealth University.
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“When we say a huge part of the portfolio, 50% or more has to be generic US equity risk. We invest on the behalf of a U.S. Institution. Their expenses are dollar-based. We don't want to have too much overseas risk.”
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