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Johns Hopkins investment officer joins Penn State endowment

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Johns Hopkins, endowment, private equity, Jim Steinbugl, Penn State University
A detailed view of the Team Ream t-shirts in memory of Penn State alumnus Brandon Ream (not pictured), who passed away from cancer in 2013 prior to the game between the Michigan State Spartans and the Penn State Nittany Lions at Bryce Jordan Center. USA Today via Reuters
  • Steinbugl joined Johns Hopkins in 2006
  • Will focus on various asset classes at PSU with concentration on natural resources and real estate
  • Johns Hopkins endowment was selling PE portfolio in ’18

Jim Steinbugl, an investment officer who worked on private equity and other asset classes at Johns Hopkins’s endowment, joined Penn State University’s endowment on Jan. 14.

Steinbugl will focus on investments across asset classes with a concentration on real estate and natural resources, a source said.

He worked at Johns Hopkins endowment for more than 12 years, starting in 2006 as an investment analyst, according to his LinkedIn profile. Previously, he worked at UBS.

Whether Johns Hopkins has named anyone to succeed Steinbugl is unclear. A spokeswoman said in a statement that he left Dec. 31 after more than 12 years of “excellent service to Johns Hopkins to move back home to Pennsylvania and pursue an opportunity to contribute in a similar capacity for his alma mater, Penn State University. We are excited for Jim on all fronts, and will miss his contributions.”

Penn State’s long-term investment pool, valued at about $4.2 billion as of June 30, 2018, had an about 20 percent allocation to PE and venture capital, split 12 percent to PE and 8 percent to VC, the endowment’s investment review for fiscal 2018 shows.

Johns Hopkins’s endowment, valued around $6 billion as of last year, had about $636 million of PE and venture, the endowment’s 2017 annual report says.

The PE total included about $388.5 million in unfunded commitment, the report said.

Last year, the endowment was shopping a portfolio of PE-fund stakes valued at up to $500 million, sources told Buyouts. It’s not clear if the portfolio traded.

Action Item: Check out Penn State endowment’s fiscal 2018 investment report: https://oim.psu.edu/reports