In 2006, the Investment Committee of the Board of Trustees engaged Cambridge Associates LLC to serve as the university's independent investment consultant. Cambridge Associates provides the Investment Committee with market research and advisement on investment strategy, asset allocation, portfolio performance, and manager evaluation and selection.
To provide diversified exposure, the university uses a multiple investment manager structure. At the present time, the USD Endowment is comprised of more than sixty investment managers representing domestic and international public equities, venture capital, private equity, private real estate, marketable alternatives, private energy, and fixed income. Since 2009, the university has employed Northern Trust to serve as master custodian, and to streamline the daily accounting and administration of the investment portfolio.