Internship Description
Devon Catalan ’26 interned with the investments office at Rockefeller University, which oversees the university's $2.5B endowment. Catalan worked on multiple projects throughout the summer, including historical returns reconciliation, private assets valuation methodology, private assets benchmarking, and investments due diligence.
As an intern with Rockefeller University’s Investments Office I worked on projects that support the university’s mission by ensuring sound endowment management. First, I assisted with reconciling historical returns. The platforms used for performance data storage do not have records predating their inception, so I compiled cash‑flow and market‑value data and reconciled them with recorded returns to ensure reliability. Second, I analyzed how fund managers valued private‑assets in the university’s portfolio and presented my findings to the team. Third, I examined various benchmark providers’ methodologies for private‑asset classes. I also conducted due diligence on potential fund managers and reviewed limited‑partnership agreements to flag terms requiring attention. These tasks provided operational, investment, and legal support to the team.
My MBA coursework proved indispensable. Understanding asset‑class language, investment strategies, and endowment objectives came from courses such as Capital Markets and the Seminar in Wealth Management. Those classes taught me how to evaluate financial data and communicate effectively with investment professionals. Although I needed on‑the‑job training to use specific systems, the academic foundation allowed me to contribute meaningfully to the team.
A key challenge was determining how to translate large amounts of data into actionable recommendations. I wanted my work to add real value, so I consulted with my supervisor to understand the practical aspects of endowment management. With guidance, I learned how to extract insights that informed investment decisions and improved processes.
The internship reinforced my belief that capital can be deployed for good. By supporting the university’s investments, I felt connected to research in biomedical sciences that benefits society. Working on data reconciliation, valuation methodologies, and legal reviews deepened my technical skills and highlighted the complexity of managing a perpetual endowment. I leave with a greater appreciation for mission‑aligned investing and the importance of accuracy and diligence in long‑term stewardship.