Founded to Serve a Charitable Organization

Glenmede Endowment & Foundation Management's origins trace back to 1956 when four children of Joseph N. Pew, founder of Sun Oil Company, designated Glenmede as trustee and investment manager for seven charitable trusts endowed to honor their parents. These trusts remain the primary funding source for the organization now known as The Pew Charitable Trusts.

During the 1970s, diversification of the Trusts' concentrated stock holdings became a priority. With that diversification came new investment strategies to preserve principal, achieve capital appreciation and generate income to meet distribution requirements. It was a significant turning point in our history. In 1979 John W. Church Jr. was named Chief Investment Officer for The Pew Trusts along with Glenmede's private client and institutional relationships.

History as a Foundation for Innovation

Supporting the investment needs of what is now one of the country's leading non profits has required on-going improvements to Glenmede's endowment and foundation investment platform. To begin, Glenmede built a deep bench of equity and fixed income strategies. By the late 1980’s, it became clear the portfolio needed to expand this two-dimensional approach to augment risk-adjusted returns. In 1988, Nancy K. Smith was named Director of Investments for Endowments and Foundations to oversee this effort. 

By the early 1990’s, several milestones occurred to augment for risk-adjusted portfolio returns:

  • Glenmede introduced a quantitative asset allocation.
  • Significant investments in private equity and private real estate.
  • Treasury Inflation Protected Securities (TIPS) became an implemented asset class.

By the early 2000’s, Glenmede Endowment and Foundation Management made additional significant enhancements to its investment strategy:

  • Increased emphasis on diversification both across and within asset classes.
  • Increased use of quantitative analysis and strategies to improve performance.
  • Absolute returns became a significant investment category.

Improvements to the service model during this period include:

  • Development of an open-architecture framework which provides access to an extensive and thoroughly researched platform of external managers.
  • Creation of an Endowment and Foundation Advisory Services team to provide education and support services to small-mid-sized organization and OCIO services to larger ones.
  • Stephen C. Lehman, former Senior Director of Investments for Columbia University’s endowment fund, named Director of Investments for The Pew Charitable Trusts and Endowment and Foundation Management.
  • Introduction of impact investing as an investment strategy for mission-based organizations and school endowments seeking to align their investments and values.

Innovation as the Foundation for Growth

We now oversee the investment and advisory needs of more than 200 additional institutions nationwide - including college and school endowments, independent and family foundations, pension funds and other non profits. Each of these organizations benefits from a robust and agile investment platform and our deep understanding of the unique needs of charitable organizations.