DUMAC has a history of investing in emerging managers, providing essential seed and anchor capital on numerous occasions, including to emerging managers that are diverse-owned (i.e., persons identifying as non-white, women, or other gender minorities) and where diverse individuals are key principals. At June 30, 2020, DUMAC worked with approximately 128 third-party asset managers, which it has selected to assist in managing university endowment assets.

Of these 128 asset managers, 52 (or approximately 40%) are diverse-owned firms. While Duke and DUMAC alike recognize this is an area where we can do better, we believe the fact that more than one-third of the firms are diverse-owned demonstrates that DUMAC’s philosophy, process, and people have worked together to show respect for the crucial principle of diversity. DUMAC is committed to identifying and eliminating systemic racism and bias in our culture and investment processes.

Firm Ownership
Active Endowment Pool External Investments
June 30, 2020

Ethnicity Gender Total US
White Male 60.4% 76.2%
Female 1.7% 2.8%
Total 62.1% 79.0%
Asian Male 31.4% 14.8%
Female 2.0% 0.0%
Total 33.4% 14.8%
Black or African American 1.5% 2.5%
Hispanic or Latino 1.9% 2.1%
Multi-racial 1.0% 1.6%
Diverse Ownership 39.6% 23.8%

Note: Totals may not sum due to rounding