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Business Wire
01-07-2025
- Business
- Business Wire
State Street and UC Investments Forge Strategic Alliance to Expand Access to Wealth Building Tools for Individuals
BUSINESS WIRE)--UC Investments, the investment arm of the University of California, and State Street Corporation (NYSE: STT), a global leader in asset management and investment servicing, today announced a strategic initiative to give individuals access to institutional-grade investment tools and opportunities. The initiative will combine the latest investment technologies and artificial intelligence to give individuals direct access to a broader spectrum of investment opportunities, including private markets. It also seeks to enhance financial literacy and deliver highly personalized, digitally enabled investment experiences through a new 'superapp' – a single platform with multiple investment management services – that will be offered to the 353,000 participants in UC's defined contribution plan. Over time, the program may extend to UC's broader community, including nearly 300,000 students and more than two million living alumni. 'This alliance strengthens our enduring relationship with UC Investments,' said Ron O'Hanley, chairman and chief executive officer of State Street. 'It reflects our mutual commitment to harnessing technology and innovation to enhance financial outcomes for individual investors and their families, leveraging State Street's investment and wealth services capabilities.' State Street is the world's fourth-largest asset manager, with nearly $5 trillion in assets under management, of which over $1.1 trillion are investment products for individuals and their wealth advisors. In addition, State Street provides investment software platforms and services to wealth managers serving individual investors around the world. State Street has partnered with UC Investments for more than two decades. Today, State Street manages $110 billion of UC Investments' $193 billion portfolio across pension, endowment, and other assets and provides custody and other investment services for most of its portfolio. For UC Investments, the initiative reflects a deepening commitment to financial inclusion. It builds on a 2024 milestone that opened the Blue & Gold Endowment Pool – the same fund in which the institution invests – to individual retirement savers. In 2017, UC and State Street collaborated to introduce Deferred Lifetime Income, an optional annuity solution for UC Retirement Savings Plan participants. 'We're proud to expand our partnership with State Street to deliver the kinds of insights, tools, and investment access that have historically been reserved for large institutions or ultra-wealthy investors,' said Jagdeep Singh Bachher, chief investment officer for the University of California. 'Our goal is to help every UC community member take control of their financial future – using AI, data, and design to build a long-term plan for wealth and security.' The initiative will reimagine the investor experience with a digitally enabled, AI-powered platform that simplifies access to private markets, enhances financial literacy, and supports personalized financial planning. By putting powerful wealth-building tools into the hands of individuals, UC Investments and State Street aim to fundamentally reshape how people engage with their financial futures. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.7 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of March 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at *Assets under management as of March 31, 2025 includes approximately $106 billion of assets with respect to SPDR ® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. About UC Investments UC Investments manages the University of California's retirement, endowment, working capital, and cash assets. Serving students, alumni, faculty, and staff, UC Investments provides fiduciary oversight and long-term stewardship of the university's $193 billion investment portfolio. Visit here for more. Tracking number:
Yahoo
27-05-2025
- Business
- Yahoo
Notre Dame de Namur University Announces Sale Agreement of Nearly 100 Acres of Property to UC Investments (University of California)
Belmont, CA, May 27, 2025 (GLOBE NEWSWIRE) -- Notre Dame de Namur University (NDNU), a private Catholic institution with a 174-year legacy of education and service, and UC Investments, the investment arm of the University of California system, today announced the pending sale of 96.5 acres of NDNU property, which includes the historic Belmont campus and Water Dog Lake. The transaction will ensure that the beloved Belmont campus and its legacy will continue to serve the region through a long-term investment strategy aligned with both institutions' missions. Once the transaction closes, UC Investments will lease the existing campus facilities back to NDNU for up to five years, allowing the university to continue in-person instruction while planning its next phase of its campus location. Additionally, UC Investments has committed to renovating two architectural and historical treasures on the property—Ralston Mansion and Carriage House, both listed as National and California registered Historic Landmarks. As part of the sales agreement, Water Dog Lake, the largest parkland in Belmont, will remain leased to the city of Belmont. The 50.5-acre preserve includes popular hiking trails and a stocked fishing lake which will continue to be a place for the community to enjoy. 'We are delighted to have found in UC Investments a responsible and mission-aligned steward for our beautiful and historically significant campus property,' said Beth Martin, Ph.D., president of Notre Dame de Namur University. 'This agreement ensures continuity for our students and honors the vision of the Sisters of Notre Dame de Namur, who have been the foundation of our presence and purpose in Belmont since 1923.' 'UC Investments moved quickly to explore this unique investment opportunity close to the heart of Silicon Valley,' said Jagdeep Singh Bachher, the University of California's chief investment officer. 'Centennial investing is one of our 10 investment pillars, and we're convinced this long-term asset will greatly benefit UC, Notre Dame de Namur University, and the Sisters of Notre Dame de Namur for at least the next 100 years.'Said UC President Michael V. Drake, M.D, 'Values and legacy are paramount to both UC and NDNU and this agreement between our two institutions represents a critical investment in the future of higher education in California. It's a rare opportunity that will benefit generations of students to come.' About Notre Dame de Namur University Notre Dame de Namur University (NDNU) is a Catholic, not-for-profit, coeducational institution serving adult learners from diverse backgrounds. Established in 1851 by the Sisters of Notre Dame de Namur, NDNU is the third-oldest college in California and the first authorized to grant women a baccalaureate degree. The university is WSCUC accredited and offers master's degrees in business, education, and psychology, undergraduate degree completion programs in business administration and psychology, along with teacher credential programs. NDNU maintains a strong commitment to academic excellence, social justice, and community engagement. For more information, visit CONTACT: Kurt Allen, Vice President, Marketing & Communications Notre Dame de Namur University 650-801-9011 pr@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data