The Saint John's Private Investment Fund (PIF) is a diversified portfolio of investments in private companies that is managed by a group of experienced alumni investment professionals. The Fund was initially seeded in late 1999 with cash contributions from alumni in venture capital and private equity firms. Additional cash contributions have been made each year since the Fund's inception. Its purpose is to grow a new source of funding for university programs and priorities.
The Fund's Investment Committee is comprised of leading investment professionals in the alumni community. The members give the Fund access to financings for portfolio companies of their respective firms or access to other private deals they are aware of. The Fund is able to "piggy-back" on these deals, investing alongside top-tier investors who lead or participate in the financing rounds.
The Committee members have expertise in venture capital, private equity or investment banking. The Committee draws members from around the nation, enabling the Private Investment Fund to access a broad range of deals. Due diligence is conducted by the Committee members or their firms.
Cash contributions from alumni and friends of Saint John's are encouraged.
The Fund reports its investment results to the Saint John's University Board of Trustees on a bi-annual basis. The Trustees intend to let the Fund grow to a size of $15-20 million before drawing on its capital to fund university programs. The Fund currently has less than $1 million of assets under management.
The staff of the university's Institutional Advancement Office is also prepared to advise alumni on tax-efficient ways to pledge and contribute stock in private companies to the Fund. Stock in private companies may be pledged with the expectation that the pledge will eventually become a tax-deductible contribution. When pledged stock is liquidated, cash proceeds from the sale are invested in opportunities identified by the Investment Committee.
Supporting the Private Investment Fund is a great way for me to give back that will have a long lasting impact on the SJU.
Kevin Ober '83
Divergent Venture Partners