“It’s something I wanted to be a part of developing because of my role here at Notre Dame,” Malpass said in a telephone interview. “I get calls all the time from Catholic groups looking for advice.”...

Spurred by the need to be sharper and faster investors in the aftermath of the global financial crisis, a growing number of sovereign wealth funds are outsourcing large chunks of their portfolios to external CIOs in the hope of picking up new ideas. Alaska Permanent Fund Corp. (APFC), the state's $51.1 billion oil fund, has led the way, laying down a model borrowed from the corporate pension fund world and adapted for sovereign wealth management.

Culbertson was part of Davidson’s small investment team that focuses on private markets investments, including venture capital. Davidson’s endowment’s had about $511 million in assets as of 2012, acc...