Endowment-style investing for everyone

This is how multi-billion dollar university endowments have invested for decades.
Now you can too.
Traditional Endowment-Style
Public Equities 70%
Fixed Income 30%
Hedge Funds —
Private Equity —
Private Credit —
Real Estate —
Infrastructure —
Special Situations —

Fund features

If you have a 401(k) or IRA invested in just stocks & bonds, you could be earning more. We can help you rollover an existing account or open a new IRA.
While the Fund is built for long-term investing, it offers peace-of-mind flexibility with 30-day, quarterly windows to sell your shares1.
Early investors have access to our Founder Class shares, which offer lower fees and expenses with a $10,000 minimum investment, or just $1,000 when you open an IRA or Roth IRA.
Pooling our investors' collective buying power allows us to purchase institutional share classes, which bear no sales loads and offer lower fees than what’s typically available to individual investors.
At tax time, you’ll receive a 1099-DIV for easy and straightforward tax filing.
Buying individual stocks of the S&P 500 enables us to harvest tax losses at the individual equity level. This tax efficiency can boost the Fund's after-tax returns.

You don't have to be ultra-wealthy
to invest like you are

Minimum Investment
$1,000
The Fund includes private markets investments that are typically available only to the wealthiest investors. Now you can access those investments with an initial investment as low as $1,000.

Traditional and alternative assets in every share

Every share has a cross-section of traditional and alternative investments in private equity, venture capital, private credit, real estate, infrastructure, special situations, hedge funds, public equities, and fixed income. We invest with top managers like Carlyle, Blue Owl, BC Partners, Golub, Rhumbline, and Hamilton Lane2 to offer an institutional-class portfolio.
Download fact sheet
Wendy Li, CIO

A pro making the decisions,
so you don't have to

Ivy Invest's Institutional Investment Strategy Fund is managed by our CIO, Wendy Li, who brings more than 17 years of experience managing multi-billion dollar portfolios. Wendy and team routinely evaluate asset allocation, manager selection, and investment strategy as they anticipate changes in the market.
Meet Wendy

Take advantage of being a patient investor

Are you leaving money on the table by not including private markets in your long-term portfolio?
💲 Cash
🏛️ Money Market
🔒
📈 Stocks
🔒
📊 Bonds
🔒
💼 Private Equity
🔒
📄 Private Credit
🔒
🏢 Private Real Estate
🔒
🌉 Private Infrastructure
🔒
✨ Special Situations
Investment horizon

We invest in top fund managers with deep expertise

Carlyle AlpInvest
Carlyle AlpInvest
Global private equity platform specializing in secondaries and co-investments
Private Equity
Hamilton Lane Private Assets
Hamilton Lane Private Assets
Multi-strategy private equity with direct co-investments and secondaries
Private Equity
Golub Capital
Golub Capital
Senior secured middle market lending with 30+ years of credit expertise
Private Credit
Variant Investments
Variant Investments
Unconventional income assets including royalties, litigation finance, and structured credit
Private Credit
Blue Owl Real Estate
Blue Owl Real Estate
Triple net lease real estate with investment-grade tenants
Real Estate
Hamilton Lane Infrastructure
Hamilton Lane Infrastructure
Core plus infrastructure focused on energy transition and digitization
Infrastructure
BC Partners Credit
BC Partners Credit
Opportunistic credit targeting specialty lending and dislocated opportunities
Special Situations
Muddy Waters
Muddy Waters
Research-driven activist short selling
Hedge Fund
RhumbLine Advisers
RhumbLine Advisers
Index specialist with $136B AUM powering our S&P 500 direct indexing
Public Equities

Fund oversight

The Fund is overseen by a Board of Trustees – the majority of whom are independent from Ivy Invest – and has an independent Chief Compliance Officer.
Brian O’Neil
Lead Independent Trustee
BACKGROUND
Brian O’Neil holds an M.B.A. from Columbia Business School and an A.B. from Princeton University. He brings over 40 years of experience across institutional investment management and financial services.
EXPERIENCE
Mr. O’Neil recently retired as Chief Investment Officer of the Robert Wood Johnson Foundation, where he managed the Foundation’s $11.4 billion portfolio for 20 years. From 1980 to 2002, he held senior investment roles at Equitable Life Assurance Society (now AXA Equitable), becoming Deputy Chief Investment Officer in 1990 and Chief Investment Officer in 1992, including during the firm’s demutualization and initial public offering.
Ross Weiner
Independent Trustee
BACKGROUND
Ross Weiner is an experienced operator and attorney with over 25 years of experience across law and financial services. He earned a J.D. from the University of Virginia School of Law and a B.A. from the University of Virginia.
EXPERIENCE
Mr. Weiner is a Co-Founder of AXOM Partners. He previously served as a Partner and General Counsel at Qatalyst Partners, held a senior role at Silver Lake, and was Director & Counsel at Credit Suisse.
Bharath Potti
Independent Trustee
BACKGROUND
Bharath Potti is a seasoned finance and investment professional. He earned an M.B.A. from The University of Texas at Austin’s Red McCombs School of Business and a B.A. from Tufts University.
EXPERIENCE
Mr. Potti currently serves as Corporate Development Manager at Fender. He previously worked in the Tufts University Endowment Office, at Partners Capital—an international outsourced chief investment office—and in the M&A group at AT&T.
Wendy Li
Trustee
BACKGROUND
Wendy Li is Ivy’s Chief Investment Officer. She is a graduate of Columbia University and a CFA charterholder, with deep expertise in institutional portfolio construction and endowment-style investing.
EXPERIENCE
Before founding Ivy Invest, Wendy spent her career as an institutional investor managing multi-billion-dollar portfolios for leading New York endowments and foundations. Most recently, she was Managing Director of Investments at the Mother Cabrini Health Foundation, overseeing its $4 billion portfolio. Previously, she held senior investment roles at UJA-Federation of New York and began her career at the Metropolitan Museum of Art.
Peter Guarino
Chief Compliance Officer
BACKGROUND
Peter Guarino brings over 35 years of experience in legal, regulatory, and compliance matters within global investment management.
EXPERIENCE
Mr. Guarino is the President of Compliance4, LLC, which provides compliance services to investment advisers, registered investment companies, and private funds. He has served as both internal and independent Chief Compliance Officer for multiple series trusts and standalone registered investment companies, and has held senior legal roles, including General Counsel, at several large asset managers.
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Quick facts

Fund Name
Institutional Investment Strategy Fund
Structure
Closed-end interval fund
Fees3
Founder Class: 0.75% / Investor Class: 1.00%
Minimum Investment
Founder Class: $10,000 / Investor Class: $1,000
Redemptions
Quarterly, up to 5% of outstanding shares
Custodian
Fifth Third Bank
Fund Administrator
MUFG Investor Services
Fund Ticker
Founder Class: XIVYX / Investor Class: IVYIX
Fact Sheet
Prospectus
Annual Report (March 31, 2025)
Semi-Annual Report (September 30, 2025)
1 Each quarter the fund offers to repurchase up to 5% of its outstanding shares. If the number of shares tendered for repurchase exceeds the number the Fund intended to repurchase, the Fund may determine to repurchase less than the full number of shares tendered. In such event, shareholders will have their shares repurchased on a pro rata basis, and tendering shareholders will not have all of their tendered shares repurchased by the Fund.
2 Managers of underlying fund holdings as of February 2026. Fund holdings are subject to change.
3 Includes management and shareholder servicing fees.
2261 Market Street, Suite 5190
San Francisco, CA 94114
hello@ivyinvest.co
The Institutional Investment Strategy Fund ("IISF" or "Fund") is an investment company registered under the Investment Company Act of 1940. IISF is a closed-end fund operating as an interval fund that makes quarterly repurchase offers and as such provides limited liquidity. The fund commenced operations on March 5, 2024. An investor should consider the investment objective, risks, charges and expenses of an investment. The Prospectus contains this and other information. Read it carefully before investing.
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