When the University of North Carolina’s student-run real estate investment fund reached out to Equus Capital Partners President and CEO Daniel DiLella about potential investment opportunities, the Villanova University board member declined, but then had a thought — why isn’t Villanova doing the same?
The Daniel M. DiLella Center for Real Estate at the Villanova School of Business, established by DiLella through a $5 million gift in 2007, is putting that suggestion into action and creating the Villanova Real Estate Investment Fund, writes Michelle Caffrey for Philadelphia Business Journal.
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While details of the fund’s operations are still being ironed out, the center’s director Jessica Taylor said they’re aiming to have it ready to roll in the fall of 2018.
It will differ from UNC’s fund in one major way. Operating as a limited liability partnership, its funding is entirely donation-based, meaning returns will go back into the fund instead of outside investors.
Bypassing the initial target of $500,000 the center has now raised over $650,000 so far from alumni donors.
As an extracurricular activity through the Student Real Estate Society, upperclassman will work as managers of the funds while underclassman put in time as analysts or observers.
Former Blackstone Managing Director and Villanova alumnus Glenn Alba will serve as a business fellow during the program’s first year as the de facto chairman of the fund, charged with training students, who will then train underclassmen in the future.
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