Verger Capital Management Selected as Partner to Manage Salem Academy and College’s Endowment
Winston-Salem, NC (FEB. 13, 2024) – After an extensive search for an investment manager, Salem Academy and College announces a new endowment management partnership between Salem and Verger Capital Management. Salem’s assets officially transitioned on Jan. 1.
As an Outsourced Chief Investment Officer, or an OCIO, Verger manages Salem’s endowment assets. Through Verger, Salem is invested in a fully diversified portfolio of Verger’s highest conviction investments which offers Salem the benefits of scale and access to investment managers, who would otherwise be difficult to access.
“By partnering with Verger, Salem will tap into a wealth of resources, expertise, and shared values that we believe enhances our institutional mission,” Salem Academy and College President Summer McGee said.
“We are proud to be aligned with Verger’s other institutional clients to chart a path forward,” McGee added.
Salem’s partnership with Verger gives Salem an objective approach to endowment investment management by giving Verger responsibility for the investment process including portfolio construction, asset allocation, manager due diligence and on-going monitoring, and risk management. The delegation of these responsibilities is designed to enable speedier investment recommendations and streamline administration for Salem. Verger’s mature private capital program contains a range of vintage years across vast areas such as growth equity, venture capital, and more.
“Salem’s new partnership with Verger is a critical next step in ensuring our institution’s long-term financial sustainability for future generations,” McGee said.
“Salem’s endowment funds critical aspects of our operations including student scholarships, faculty development, lectureships, and more. Growing our endowment as a larger portion of our annual revenues is a key strategic priority in the coming years and we look forward to working with Verger on that front,” she added.
Through Verger’s investment approach, Salem benefits from the scale and purchasing power of a more than $2 billon diversified portfolio which provides Salem access to a pro rata share of the entire portfolio including alternative strategies and seasoned private investments.
“We believe Verger’s relationship with Salem will contribute to the institution’s mission of educating and preparing young women to be leaders,” said Elizabeth Laughter, Verger’s Managing Director of Client Service and Salem alumna.
“The Verger team has significant endowment and foundation management experience giving us a unique understanding of our educational clients and their needs,” Laughter added.
For more information about Verger, visit vergercapital.com.
For more information about Salem Academy, visit salemacademy.com and to learn more about Salem College visit salem.edu.
About Salem Academy and College
Salem Academy and College is the nation’s oldest educational institution for girls and women in the United States. Salem Academy is intentionally focused on STEAM to transform students’ education through the holistic integration of rigorous academic and co-curricular experiences that build character and leadership. Salem College provides women a liberal arts education with a distinctive focus on health and leadership ensuring our graduates understand the power, importance, and complexity of health in our society. Salem College prepares students for a range of career paths to lead in making the world a better, healthier, more equitable place and is the only national liberal arts college exclusively focused on developing the health leaders of tomorrow.
For more than 250 years, Salem Academy and College has empowered and prepared girls and women from all around the world to effect change, shatter expectations and lead. Salem Academy and College is located in Winston-Salem, North Carolina, a vibrant educational community known for arts and innovation.
News media contact
Meagan Coughlin, APR
(336) 721.2665
meagan.coughlin@salem.edu