Who we are

Endowment-style investing is in our DNA

DNA sequence

Our history

GEM was founded in 2007 by the investment leadership of the Duke University Management Company and The Duke Endowment. Our mission was to replicate the investment management style and governance model of the leading endowments.

As a leading Outsourced Chief Investment Office (OCIO), we deliver a sophisticated, endowment-style investment program to institutions with a multigenerational horizon. We combine disciplined portfolio management with sound governance and a boutique mindset — integrating with our clients’ organizations as if we’re their in-house team.

As client needs have evolved and broadened, we’ve leveraged our multi-asset investing capabilities into tailored solutions for other types of long-term investors. GEM clients access our underwriting process, manager relationships, and integrated partnership via comprehensive OCIO engagements, targeted alternative investments programs, and impact-focused strategies.

We are employee-owned and independent, structurally aligned with our clients’ long-term objectives. No matter the mandate, we look to generate superior risk-adjusted returns over the long term by accessing high-quality investment opportunities, combined with an ethos of partnership built to endure.1

What is endowment-style investing?

Pioneered by David Swensen and the Yale Investments Office in the mid-‘80s, endowment-style investing is rooted in the belief that perpetual investors have distinct opportunities and advantages relative to traditional investors. Instead of relying solely on conventional asset types in a standard portfolio structure, the leading endowments focus on broad diversification across asset classes, with allocations to alternatives such as private equity, venture capital, hedge funds, and real estate, where skill in differentiated manager selection can generate alpha in less efficient markets.

Our team

Our team has extensive experience at leading endowments, private equity firms, hedge funds, and asset managers across the country. GEM’s senior leaders, many of whom were trained as direct investors, operate with a principal mindset. We bring to bear the full weight of our team’s expertise on behalf of each client to ensure exceptional results and partnership.

Flock of birds

Diversity, equity, and inclusion (DEI)

At GEM, we work together to build a diverse and inclusive organization that reflects the range and richness of our experiences and identities. We take a systematic approach to fostering DEI, with a focus on creating opportunity and driving change across the following areas: our firm, our portfolio, and our community and industry.

Our approach to DEI

Culture and careers

Learn what it’s like to work with us and view our current job openings.

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Recent Insights

Ten Mistakes in Investment Policy Development

An effective Investment Policy Statement should support good governance and the unique needs of your institution. Our whitepaper explores common pitfalls in investment policy development and offers guidance on how to get it right.

GEM Private Pacing Methodology

Sourcing and manager selection typically get top billing in conversations around private investments, but one underappreciated aspect of a successful private allocation—explored in our recent whitepaper—is the art of pacing commitments to ensure appropriate portfolio allocation.

GEM 2024 Outlook: The Big Debates

In our 2024 Outlook, we outline four current issues that are impacting portfolios and offer our views on how these questions might influence our allocation strategy and the broader economic landscape.

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1 Returns are not guaranteed.