The Notre Dame Endowment is the 14th largest educational endowment in the country and the largest at a Catholic university, with more than $7 billion in assets under management. The Endowment is invested in a highly diversified, multi-asset class portfolio, with a heavy commitment to equity and equity-like investments for long-term growth.The University's portfolio has one of the highest allocations to alternative investments in the endowment community. The firm's long-term target allocations include 15% to hedge funds, 22.5% to private equity, and 17.5% to real assets (real estate, energy, and commodities). In the commodities space, the endowment tends to move away from futures and acheives exposure via equities. The firm did consider enhanced index funds but decided not to invest.Notre Dame does not work with any investment consultants.