Dakota Live! Podcast: The Waco Edge: Investing with Purpose at Baylor University

In this compelling episode of the Dakota Live! Podcast, host Robert Morier sits down with Renee Hanna and Kailey Ransom from Baylor University's Office of Investments to explore how a mission-driven approach informs manager research, team dynamics, and long-term investment success.

Baylor’s $2.1 billion endowment supports a range of initiatives including scholarships and professorships—and behind the numbers is a deeply collaborative team led by values, diligence, and a commitment to developing strong investment partnerships.

Renee, Managing Director of Investments, shares insights from her 17-year tenure building out Baylor’s private markets portfolio with intentionality and discipline. Kailey, a rising talent and investment analyst, reflects on her transition from Baylor student to staff and the unique opportunity to learn from a tight-knit, high-performing team. Together, they walk us through how manager selection at Baylor is guided not only by performance, but by integrity, alignment of values, and a firm’s "why"—what drives them beyond money.

Key takeaways for listeners:

• Integrity is a Non-Negotiable: Baylor's deep-dive due diligence starts with reference checks from friends, neighbors, and former colleagues.
• Team Collaboration Matters: With a flat structure and shared decision-making, the private investment team evaluates every GP through a unified lens.
• Focused and Intentional: With a relatively concentrated private markets book (favoring sub-$500M funds in tech, healthcare, and consumer), Baylor only adds 1–2 managers annually—and expects to grow alongside them.
• Mission Alignment: The endowment supports transformational student experiences, making investment outcomes personal for the team.
• The Waco Advantage: A tight campus community away from coastal financial centers allows the team to think independently while staying connected to its purpose.

Whether you're an allocator, GP, or student considering a career in finance, this episode offers a rare look into how a university investment office balances discipline, culture, and conviction in building a portfolio that lasts generations.