LP profile · Pension fund
University of California Board of Regents
University of California Board of Regents is a pension fund headquartered in United States (North America). Ranked #18 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
Historical Background
- The University of California was established on March 23, 1868, and is governed by the Board of Regents, a body created under the California Constitution.
- Two years after its founding, in 1870, the Board of Regents passed a resolution to admit women to the university on the same terms as men.
Source of Capital
- The Board of Regents, through its investment arm UC Investments, manages capital sourced from the University of California's own assets.
- These assets include the university's retirement plan, endowment funds, and working capital pools.
Major Events
- The Regents announced in May 2020 that its investment portfolios had become fossil fuel-free after divesting from more than $1 billion in related assets across its pension, endowment, and working capital pools.
- Concurrently, the office achieved its five-year goal of placing $1 billion into clean energy investments.
Allocation Strategy
- The investment office allocates capital across a range of assets, including public equity, real estate, and private markets.
- The fund has been reducing its exposure to hedge funds while increasing its allocation to private credit.
- Investment strategy is guided by the long-term financial needs of the University, including endowment payouts and budget requirements.
Sources
- https://regents.universityofcalifornia.edu/about/
- https://www.library.ca.gov/crb/quick-hits/uc-history/origin/
- https://www.universityofcalifornia.edu/news/uc-celebrates-150-years-pioneering-better-future
- https://www.ucop.edu/investment-office/index.html
- https://www.ucr.edu/investments
- https://www.universityofcalifornia.edu/press-room/ucs-investment-portfolios-fossil-free-clean-energy-investments-top-1-billion
- https://www.pionline.com/hedge-funds/uc-regents-moving-divest-hedge-funds-grow-private-credit
- https://regents.universityofcalifornia.edu/governance/policies/6110.html