Supporting research, teaching, and learning for current and future generations
Stanford Management Company (SMC) is the office within Stanford University that invests the Endowment and other financial assets to provide long-term support to the University.
The Endowment and other gifts to the University support the academic mission. These financial resources provide vital support to the University’s mission by advancing pioneering research, supporting a world-class faculty, and funding student financial aid. SMC provides expert investment management and stewardship of the Merged Pool, which includes substantially all of Stanford’s investable endowment assets.
Established in 1991, SMC pursues an investment program with two primary goals: to provide material support for current University operations, including student financial aid, and to preserve the purchasing power of the Endowment so that future generations of students and scholars are similarly supported. The success of SMC’s investment program is crucial to the University’s ability to carry out its mission and have the greatest impact on campus and around the world.
Stanford’s academic programs weave a vibrant tapestry of scholarship and research, from cutting-edge technology to the arts and humanities. One of the most important threads that holds this tapestry together is the Endowment. Comprising more than 7,300 individual funds established by donors, it touches nearly every part of the University on a daily basis by supporting faculty, research, financial aid, and numerous other areas. The stronger the Endowment, the brighter and more ambitious Stanford’s tapestry can be.
Investment returns generated from Endowment funds support the University’s mission. Annual payout of $1.3 billion in Fiscal Year 2021 represented about a fifth of the University’s total operating expenses. Endowment payouts fund teaching, learning, and research across a wide variety of disciplines, including the arts, humanities, social sciences, sciences, engineering, law, medicine, business, and education. The Endowment is a key resource for Stanford as it strives to advance human knowledge and ultimately benefit the local, national, and global community.
The Merged Pool
SMC is the fiduciary for the $42 billion Merged Pool, which comprises the substantial majority of Stanford’s investable assets. Endowment funds constitute three-quarters of the Merged Pool. Other investment assets include non-endowment gifts, other reserves, and funds relating to the Stanford Hospital and the Lucile Packard Children’s Hospital.