DUMAC is committed to identifying and eliminating systemic racism and bias in our culture and investment processes.

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, 2023, DUMAC worked with 130 third-party asset managers, which it has selected to assist in managing university endowment assets. These managers invest approximately $13.2 billion of the Endowment Pool. Approximately 42% are diverse-owned firms.

While Duke and DUMAC alike recognize this is an area where we can do better, we believe the fact that almost 42% 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.

Firm Ownership
Active Endowment Pool External Investments
June 30, 2023

Ethnicity Gender Total US
White Male 57.6% 66.6%
Female 1.9% 2.9%
Total 59.5% 69.5%
Asian Male 33.8% 20.6%
Female 0.9% 1.4%
Total 34.7% 22.1%
Black or African American 3.6% 5.4%
Hispanic or Latino 2.1% 2.9%
Multi-racial 0.1% 0.2%
Diverse Ownership 42.4% 33.4%

Note: Totals may not sum due to rounding