Press Releases

Arizona State University Enterprise Partners Names BlackRock as Its Outsourced Chief Investment Officer (OCIO)

Tempe, AZ; New York, NY – July 6, 2017 – ASU Enterprise Partners, parent organization to the ASU Foundation and other non-profit entities that raise resources in support of Arizona State University, named BlackRock Inc. as its Outsourced Chief Investment Officer (OCIO), furthering the organizations’ three-year risk advisory relationship and creating new opportunities to advance accessible, excellent higher education. 

Evolution in ASU Enterprise Partners’ Investment Committee’s strategy led it to request proposals for re-imagining its OCIO role. BlackRock was selected for its closely aligned strategies and values -- including global perspective, focus on innovation, and investment skills ranging from index management to customized alternatives. BlackRock has also committed to engaging in a broad partnership to offer programming and mentorship for ASU students.

“The Investment Committee and staff went through a methodical selection process that led to the identification of some tremendous, high-quality investment firms. Given their qualities, BlackRock stood out as the best fit for our program,” said Keith Wirtz, ASU Enterprise Partners and ASU Foundation board member and chair of the Investment Committee. “Strengthening our partnership with BlackRock represents a meaningful step towards reimagining the OCIO model. Together, we look to shape a program that ultimately benefits ASU's educational activities through new approaches to the endowment portfolio, expanded investment opportunities and lower fees." 

“ASU stands for innovation, academic excellence, and improving access to higher education, and we are proud to be their investment partner,” said Mark McCombe, head of the Americas for BlackRock. “BlackRock will work closely with ASU Enterprise Partners to achieve their investment objectives, so they can continue to focus on what they do best: building a world-class academic institution.” 

“Throughout our relationship, BlackRock has indicated a commitment to ASU beyond traditional investment management,” added Michael M. Crow, president of ASU. Our students have had the opportunity to learn from their senior leaders and to better understand their analytical tools. We’re eager to grow this partnership while benefitting from BlackRock’s global presence, expertise and culture of innovation in the endowment space.” 

“This partnership reflects an alignment of shared values, especially in our mutual eagerness to innovate to generate results,” said Rick Shangraw, chief executive officer of ASU Enterprise Partners. “BlackRock will be a great partner as we explore creative ways to generate resources to advance accessible higher education.”

BlackRock assumed management of ASU Foundation's long-term investment pool on July 1, 2017.

About ASU

Arizona State University has pioneered a new model for the American Research University, creating an institution that is committed to access, excellence and impact. ASU measures itself by those it includes, not by those it excludes. As the prototype for a New American University, ASU pursues research that contributes to the public good, and ASU assumes major responsibility for the economic, social and cultural vitality of the communities that surround it.

Website: | Twitter: @ASU

About ASU Enterprise Partners & ASU Foundation

ASU Enterprise Partners is a private nonprofit organization based in Tempe, AZ and made up of distinct entities, including the ASU Foundation, that raise, create and invest resources for the benefit of Arizona State University while advocating for and advancing ASU’s mission and brand.

Website: | Twitter: @asufoundation

Contact: Olivia Offner

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit