University of California Investments annual report 2022 - 2023

UC Investments

White background

At UC Investments, we believe that when we eliminate what’s not essential, we’re better able to recognize and act on market openings we might have otherwise missed.

So as the world grew significantly noisier this year, we tuned out the static.

Instead of striving to get more things done, we focused on getting the right things done. The results have been worth it.

In another year roiled by uncertainty, we used our size and scale to capitalize on game-changing opportunities.

The CIO: Statement from Jagdeep Singh Bachher, Ph.D.

The Number: Our Assets

The Culture: Our Ten Pillars

The Story: UC & Blackstone Partnership

The Regent: Richard Sherman Q&A

The President: Statement from Michael V. Drake, M.D. 

The Strategy: How We Invest

The Products: Overview

The Data: What Happened in the Markets?

The Endowment

Blue & Gold

The Pension

The UC Retirement Savings Program

Working Capital

Total Return

Short-Term

Endowment

Pension

Retirement Savings

UC Regents & Officers

Less is More