USM Foundation Wins Endowment of the Year Award
From left, University of Maryland College Park Foundation Board of Trustees Chair Paul Mandell, UMCPF Trustee Ray Ferrara, University of Maryland President Darryll J. Pines, Chief Investment Officer Sam Gallo, UMCPF Trustee Eric Francis and UMCPF President Brodie Remington display the award for Endowment of the Year on behalf of the University of Maryland. Ferrara and Francis also serve on the University System of Maryland Foundation’s Investment Committee representing UMCPF. (Photo by Stephanie S. Cordle)
The University System of Maryland (USM) Foundation’s investment office was recognized last month at Institutional Investor’s 19th annual Hedge Fund Industry Awards, winning the Endowment of the Year category. Led by Chief Investment Officer Sam Gallo, the office manages endowment funds for the benefit of institutions and foundations affiliated with the USM as well as six Maryland community college foundations.
As of February 2022, the USM Foundation had more than $997 million under management on behalf of the University of Maryland and University of Maryland College Park Foundation.
“To bring this incredible acknowledgement home to the state of Maryland is a testament to our investment team and the dedicated volunteers who serve on the system foundation’s investment committee,” said UMCP Foundation President Brodie Remington. “It is an outstanding tribute to their collective stewardship of our investment portfolio.”
The USM Foundation was the only entity serving public institutions that peer endowment and foundation investment managers nominated for the magazine’s honor, which acknowledges investment offices that are innovating for and advancing their institutions. In securing the award, the USM Foundation prevailed over Harvard and others.
Finalists in 19 other categories also received awards during the 2022 ceremony, held April 27 at the Mandarin Oriental in New York City.
“For Maryland to win, investment professionals had to demonstrate their respect for our investment program, validating the strong networks and brand value we have built in the investment industry,” Gallo said.