Michael Karris founded EndowBridge® Capital, a registered investment advisory firm, in 2013.
As a former Director of Investments at Columbia University’s endowment from 2005-2010, Michael saw the challenges faced by Endowment Model investors.
During the 2008-2009 Great Financial Crisis, smaller nonprofits struggled with the complexity of the Endowment Model more than ever.
Even today, Endowment Model drawbacks such as high fees, poor transparency, illiquidity, redemption gates, and lock-ups still plague investors large and small.
Smaller nonprofits are burdened by the demands of extensive due diligence, complex investment strategies, commitment calls, and over-diversification across fund managers, which can dilute alpha and result in expensive beta.
As a result of these challenges, smaller Endowment Model investors
often fall short of their investment goals, which can jeopardize their missions.
In order to help smaller nonprofit investors overcome these drawbacks, EndowBridge conducted empirical research to develop low-cost balanced strategies with index fund ETFs.
We use low-cost beta to create alpha. Read our research that summarizes our investment philosophy on SSRN: "Alpha, Beta and the Endowment Model"
Our mission is to help small/mid-sized endowments & foundations by replicating some of the success of larger endowments in a refined but simpler investment approach.
EndowBridge® Capital also serves family offices, RIAs (as a sub-advisor) and
other long-term accredited investors via custodial platforms
either at Charles Schwab & Co. or Interactive Brokers Group.
Larger clients could use the custodian of their choice.
(EndowBridge Capital was originally named IvyBright Capital)