From Anthropology to Investing: How Drexel's Endowment Makes Investment Decisions with Stephen Chase

Stephen Chase, Associate Director of Investments at Drexel University, joins host, Robert Morier to discuss how a three-person investment office oversees approximately $1.25 billion across the university's endowment and investment portfolio.

In this conversation, Stephen shares his unconventional path from studying anthropology at Trinity College to helping manage one of Philadelphia's leading university endowments.

We explore how qualitative thinking, manager due diligence, portfolio construction, private markets, real assets, AI, and risk management shape investment decisions inside a modern institutional investment office.

Topics include:

• Managing a billion-dollar university endowment with a lean investment team
• Why an anthropology degree became an advantage in investment management
• How institutional allocators evaluate asset managers and build trust
• The future of private markets, real assets, and infrastructure investing
• AI's growing role in manager research and investment operations
• Portfolio construction, liquidity management, and risk oversight

Whether you're an allocator, asset manager, investment consultant, student, or aspiring investment professional, this episode offers a rare behind-the-scenes look at how institutional capital is deployed and managed over the long term.