• Results were driven by private equity, venture holdings.
  • Endowment's long-term pool assets rose 8.3% to $7.5 billion.

The University of Virginia Management Company reported an investment return of 7.7 percent for the year ended June 30, according to an annual report posted Monday. The assets of the long-term pool rose 8.3% to $7.5 billion.

Driven by returns from its private equity and venture holdings, it beat its policy portfolio benchmark of 1.9 percent by 580 basis points. At the close of the fiscal year, private equity assets comprised 19 percent of its portfolio. The returns were reported gross of management and incentive fees.

UVIMCO manages the University of Virginia endowment, the 5th largest public college endowment in the U.S. Chief Executive Officer Lawrence Kochard has led it since 2011.

“We are gratified that our unrelenting focus on long-term strategic asset allocation, portfolio tilts, and manager selection resulted in a short-term return in line with long-term expectations even in the face of lackluster public markets,” Kochard wrote in the report. Over a 10-year period, the fund returned 10.1 percent, outperforming its long-term 7.5 percent benchmark to keep up with inflation and annual outlays to the university.

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