and Endowment Operations teams bring decades of investment management
expertise across diversified industries and financial specialties. Through
disciplined research and due diligence, we assess and pursue investment
strategies that are aligned with the long-term risk/reward profile of the
Allison K. Thacker
President; Chief Investment Officer
Allison K. Thacker
joined Rice University in 2011 as President of the Rice Management Company with the responsibility of managing a $5.3 billion endowment fund and the University’s $931 million of debt. The Rice University endowment ranks in the top 20 endowments of private research universities in the US and funds over 40% of the university budget. Over the 3, 5 and 10 years ending June 30, 2016, annualized endowment returns were 7.3%, 7.8% and 7.1%. Rice Management Company partners with third party investment managers and also internally manages a portfolio of direct real estate, oil and gas royalties, timberland and operating businesses. Prior to joining Rice University, Ms. Thacker spent 11 years with RS Investments, a San Francisco-based investment firm specializing in public equities. At RS Investments, Ms. Thacker held roles including Portfolio Manager, Managing Director and Research Analyst. In the earlier portion of her career, Ms. Thacker served as a Summer Analyst at Putnam Investments and as a Financial Analyst in the energy investment banking group at Merrill Lynch & Co. She is a member of the KIPP Houston Executive Board, with 24 public charter schools serving 12,500 students in Houston, president of the Houston Ballet Board of Trustees, a board member for Black Stone Minerals, and a member of YPO. Ms. Thacker is a graduate of Harvard Business School where she received an M.B.A. She has a Bachelor of Arts degree in economics with honors from Rice University.
Investment Director, Private Equity; Venture Capital
joined Rice Management Company in 2013 as Investment Director for Private Equity and Venture Capital. Previously, Mr. Aguirre was a Principal at Austin Ventures where he focused on growth equity investments and also acted as CFO of a portfolio company. He was previously a Vice President in the technology, media, & telecom investment banking group at Goldman Sachs. Earlier in his career, he worked in the investment banking division of Merrill Lynch as part of the energy group in Houston and the Latin America group in Mexico City. Mr. Aguirre received his M.B.A. from Harvard Business School and has a Bachelor of Business Administration and Master in Accounting from the University of Texas at Austin. He serves on the board of Accelerate Learning, Austin Children's Museum, Burrell College of Medicine at New Mexico State University, Emerus Hospital Partners, Iora Health, and OrderWithMe.
Investment Director, Real Estate
joined Rice Management Company in 2013 as Investment Director for Real Estate. Mr. Arnold is responsible for the endowment real estate portfolio including direct investments, programmatic joint ventures, and commingled funds. For the preceding decade, Mr. Arnold served as Senior Vice President and Investment Committee member at Lionstone, where he led the six‐member Investments team on over 50 acquisitions totaling $1.6B nationally across property types. He has prior experience in multi‐family development, management consulting, and housing finance. Mr. Arnold received his M.B.A. from The Wharton School at The University of Pennsylvania. He earned a Bachelor of Arts, Phi Beta Kappa, from the University of North Carolina at Chapel Hill. He serves on the boards of Urban Land Institute in Houston, St. Anne Catholic School, and Covenant House Texas.
Investment Director, Natural Resources; Public Equities
joined Rice Management Company in 2012 as Investment Director for Natural Resources and Public Equities. In this role, Mr. Lawrence oversees approximately $2 billion of the Rice University endowment, including energy investments, timber assets, and public equity portfolios. Previously, he spent 12 years in public equity investments, most recently at Tudor Pickering & Holt covering energy securities. Prior to Tudor Pickering & Holt, Mr. Lawrence was a Principal & Portfolio Manager at Transamerica Investment Management in Los Angeles. He has a Bachelor of Arts degree in managerial studies from Rice University; an M.B.A. from the UCLA Anderson School of Management; and is a CFA® charterholder.
Investment Director, Hedge Funds
joined Rice University in 2005 as Investment Director,
first overseeing risk management and asset allocation, and currently overseeing
Rice's $1 billion+ allocation to hedge fund and distressed investment
strategies. Prior to joining Rice, she was Vice President of Finance and
Investor Relations for Crown Castle International Corp (NYSE:CCI), having
joined the company prior to its IPO. Prior to CCI, she was Director of
Financial Analysis for Torch Energy Advisors, one of the first fund managers
offering directly‐held oil and gas investments to institutional investors.
She began her career at Ibbotson Associates, where she was a consultant to
institutional investors, publishing research on topics such as strategic
asset allocation for endowments and foundations; fixed income investing for
pension plans; and the value of holding producing oil and gas properties in
an institutional portfolio. She is a frequent speaker at industry events
and a periodic author on industry topics. Her most recent publication is
Forget Alpha. Why Opportunity Cost is a Better Measure of Hedge Fund
Performance (NMS Exchange). Ms. Thompson holds undergraduate degrees in
finance and accounting from Texas A&M University and an M.B.A. from
Real Estate Manager
joined Rice Management Company in 2015 as the Asset
Manager for Real Estate. Ms. Arreola is responsible for the portfolio of
direct assets and assists with oversight of the broader real estate
portfolio. Previously, she spent five years at Lionstone Investments, a
Houston based real estate private equity firm, where she was the Assistant
Portfolio Manager for 3 value-add funds and one core separate account totaling
$1.3 billion in AUM. She has prior experience in real estate investment
sales and development. Ms. Arreola received her M.B.A. from the University
of Texas at Austin McCombs School of Business and has a Bachelor of Arts
degree in honors sociology, cum laude from Rice University. She is an
active member of the Urban Land Institute and serves as the Vice Chair for
its Women's Leadership Initiative in Houston.
Investment Analyst II
joined Rice Management Company in 2016 in the position of Investment Analyst II. In this role, Mr. Levin is responsible for research and analysis across a wide spectrum of multi-asset class investment opportunities. Prior to joining Rice, he spent two years at Citigroup as part of the Municipal Securities Division, serving as an Analyst on the investment banking team in Dallas, TX. Mr. Levin is a graduate of Texas A&M University where he received his Bachelor of Business Administration in Business Honors and Accounting, as well as his Master of Science in Finance.
Senior Investment Analyst
joined Rice Management Company in 2015 and is a Senior Investment Analyst. In this role, she provides support to the Investment Team through investment and manager research and analysis and portfolio monitoring across various asset classes. Prior to joining Rice, she was an Associate at Mizuho Bank as part of the Oil and Gas Corporate Finance Advisory Solutions team and an Analyst at The Royal Bank of Scotland as part of the Oil and Gas Corporate and Institutional Banking team based in Houston, TX. Ms. Roberts is a graduate of Rice University where she received her Bachelor of Arts degree in Economics.
joined Rice Management Company in 2017 in the position of Executive Assistant. In this role, she supports the CIO, the greater team, and manages the offices of Rice Management Company. Sarah spent 10 years at Wells Fargo as an Administrative Assistant to the Energy and Power Investment Banking Group and the Corporate Trust Group. Prior to that, Sarah was at Chase Bank (formerly Bank One) where she worked 10 years in various roles. Sarah holds a Bachelor’s degree in Psychology from the University of Houston-Downtown and is a volunteer with the Houston Livestock Show and Rodeo.
Ronald E. Long
Chief Operating Officer; Fixed Income and Cash, Debt Management
Ronald E. Long
University in 2000 as Associate Vice President for Investments and
Associate Treasurer, and was also named a Vice President of the Rice
Management Company when it was formed in 2009. As Chief Operating
Officer, Mr. Long is responsible for overseeing the operations of the
RMC, which includes cash management as well as planned giving asset
investment and administration, in addition to managing Rice’s fixed
income, cash investments, and outstanding tax‐exempt and taxable
debt. Previously, Mr. Long served as Treasurer of Browning‐Ferris
Industries, Inc. where he was responsible for BFI’s treasury, tax and
insurance functions, and shared responsibility for managing the
pension funds and 401(k) plan assets. Prior to joining BFI in 1993,
Mr. Long was Treasurer of American Exploration Company where he was
employed from 1989 to 1993. Mr. Long has lived in Houston and has
been employed in various finance capacities since January 1981. Mr.
Long is a graduate of the University of Kansas where he received a
B.A. in history and an M.B.A. Mr. Long became a CPA in 1989 but no
longer maintains his license.
Endowment Operations Analyst
joined Rice University in 2015 as an Endowment
Operations Analyst. Previously, she worked at Stage Stores as a Senior
Treasury Analyst with the primary responsibilities of cash management, bank
relations, and forecasting budgeting. She earned her Bachelor’s degree
in Finance at Texas A&M University.
Treasury Operations Administrator
University in 2014 as a Treasury Operations Administrator. In her role at
Rice, she provides support for the Treasury functions of the university,
assists with endowment-related operations and serves as executive
assistant to the COO of Rice Management Company. Previously, Ms. Bowers
worked 16 years at Bank of New York Mellon in the Structured
Finance division which was part of JPMorgan Chase until 2006. She
managed the team responsible for warehousing and closing new CDO
portfolios and most recently ran the Business Acceptance Committee
meetings for all US Domestic business.
joined Rice Management Company in 2008 as its first
Investment/Operations Analyst, responsible for managing the
information systems used to analyze and report on Rice’s position of
more than 160 private equity and venture capital investments. He
also oversees several systems used in the tracking of all of the
endowment’s investments. In 2012, he managed the successful
implementation of the Backstop system, which houses all of the
endowment’s documents and data. Previously, Mr. Britt spent 12 years at
JPMorgan Chase, where he was a Vice President and Team Leader, first
managing a team that implemented a company-wide system migration; and
later leading a team of relationship managers in the Structured
Finance division. Mr. Britt holds a Bachelor of Arts degree from
Southwestern University in Georgetown, Texas.
Roy R. Buckley
Roy R. Buckley
has been with
Rice Management Company since 2005, and serves as Minerals Manager. His
responsibilities include managing all oil, gas and mineral property
interests directly owned by the endowment, including Rice‐Land Lumber
Company (a corporation wholly owned by the University), with 50,000 acres
located in Beauregard, Allen, Evangeline, and Rapides Parishes, Louisiana.
Mr. Buckley negotiates all oil and gas lease transactions with numerous
industry exploration and production firms and represents the University
in other E&P associated transactions such as seismic exploration
agreements, pipeline right‐of‐way agreements, production sharing
agreements and division order contracts. Previously, Mr. Buckley was an
oil and gas property manager with the JPMorgan Private Bank (1990 –
2005) and an independent petroleum landman (1979 – 2000). Mr.
Buckley holds a Bachelor of Science degree in business management from the
University of Tampa (1979) and a Juris Doctor from South Texas College
of Law (1990).
joined Rice Management Company in 2016 as a Minerals
Manager. She is part of the team that manages all oil, gas and mineral
property interests directly owned by the endowment. Her responsibilities
include the implementation and maintenance of a land management system; the
review and drafting of agreements; and auditing incoming revenue.
Previously, Ms. Bullen was in private practice for eighteen years as an oil
and gas title and transactional attorney. Most recently, she served as the
Manager of the Title Section of the Kilburn Law Firm where she led a team
of 95 attorneys. She holds a Bachelor of Arts degree in French and
political science from Rice University and a J.D. from Vanderbilt Law
School. She is a member of the State Bar of Texas, the Oil, Gas and
Mineral Law section of the Houston Bar Association and the Houston
Association of Professional Landmen.
Associate Minerals Manager
joined Rice Management Company in 2016 as the Associate Minerals
Manager. In his role at Rice, he provides support to the Minerals Managers
and Investment Director for Natural Resources by helping manage the
University’s direct oil and gas holdings. He is responsible for handling
daily transactions work relative to these holdings and inputting data into
the relevant systems. He also assists in the reviewing and drafting oil and
gas contracts, creating and implementing new systems, procedures, and
process improvements. Mr. Burke has been in the oil and gas industry since
2007 having worked in both land research and mineral acquisitions. He
earned his Bachelor of Arts degree in Economics from the University of
Texas at Austin.
joined Rice University in 2014. In her role at
Rice, she provides support for the Treasury functions of the University as
well as Backstop system and document support. Previously, Ms. Chong
worked at Bank of New York and Virtus Partners as a Director of Client
Services specializing in collateralized debt obligations and loan
administration. She earned her Bachelors of Business Administration
from University of Houston-Downtown.
Mina J. Kasrai
Mina J. Kasrai
joined Rice University in 1994. Since 2005, she has
served as Endowment Analyst for Rice Management Company. During her tenure at
Rice, Ms. Kasrai has also held staff positions in the offices of Vice President
for Finance and Administration, and Resource Development Alumni Records. Ms.
Kasrai is primarily responsible for computing returns to capture the
performance of each asset class in which the Endowment is invested, and
compiling performance values into various reports for distribution to Rice
Management Company’s Board. She also assists with data analysis and special
projects for the Rice Management Company Investment team. Ms. Kasrai holds
a Bachelor of Science degree in Applied Statistics from University of
Treasury and Operations Director
joined Rice Management Company in 2012 as
Treasury Manager, and now serves as Treasury and Operations Director. Her
primary responsibilities include overseeing the cash and banking activity for
the University and the endowment; serving as the primary manager for all
banking relationships; determining the cash needs for the University, the
endowment, and subsidiary companies; and reviewing account statements for
appropriateness and accuracy. Her operations responsibilities are
supervising the implementation and ongoing management of systems used to
support investment activity including document retention and investment
management reporting systems, and third-party performance reporting systems.
Previously, Ms. Melton worked 10 years at JPMorgan Chase, as a Vice
President in the Structured Finance division, and led a 50-person team
focused on the CDO industry. She holds an M.B.A. in finance, and a
Bachelor degree in business, both from the University of St.
was appointed Trust Manager for Rice Management Company in
July 2012. In this capacity, she provides oversight and management for
charitable remainder trusts, estates, and other accounts under the
administration of Rice Trust Inc., the University’s wholly-owned trust
company, as well as other deferred gift accounts of the University.
Ms. Nelson is also responsible for reviewing endowment-related
investment agreements and amendments, and advising the Chief Investment
Officer and investment staff on the best course of action with respect
to these contracts. Previously, Ms. Nelson served for five years as
Gift Planning Officer in Rice University’s Office of Gift Planning.
She spent the prior eight years in the financial services industry
managing personal and family trust accounts. Ms. Nelson graduated cum
laude with a Bachelor of Science degree in psychology from Texas
A&M University and holds a J.D. from St. Mary’s University School of
Law. She attended Cannon Trust School and holds a Certified Trust and
Financial Advisor (CTFA) designation. Ms. Nelson is a past president and
current board member of the Planned Giving Council of Houston and is a member
of the State Bar of Texas and Attorneys in Tax and Probate. She is also
a Life Fellow of the Houston Young Lawyers Foundation and served for
ten years on the Lawyers for Literacy Committee of the Houston Bar
joined Rice University in 1989 as Associate Vice
President for Investments and Associate Treasurer and was also named a Vice
President of the Rice Management Company when it was formed in 2009. Ms.
Nelson has handled numerous endowment matters including: asset allocation and
endowment policy; investment manager selections/monitoring/terminations;
investment performance and reporting; endowment spending and budgeting;
charitable trust management and administration; treasury, custody and cash
management. Prior to joining Rice University, Ms. Nelson was a financial
auditor with Arthur Andersen & Co. working with clients in the
Not-for-Profit Education and Healthcare sectors, and public companies in the
consumer products and oilfield services industries. Ms. Nelson is a graduate
of Rice University with Master of Accounting and Bachelor of Arts degrees.
Ms. Nelson became a CPA in 1984 but no longer maintains her
joined Rice University in 1991 as an accountant in the
Controller’s Office in the Endowment Accounting group. In 1995, Mr. Perez
moved to the Office of Investments and Treasurer (now Rice Management
Company) where his primary responsibility is endowment budgeting and
spending. This includes budgeting the annual spending from the
University’s 1,800+ endowment funds and monitoring compliance of the
endowment spending policy. Mr. Perez is also responsible for generating
endowment spending forecasts to assist management in determining
appropriate levels of future annual spending from the endowment. Mr.
Perez also assists with the management of the University’s long-term
debt and commercial paper programs including issuance of debt and
monitoring the spending of debt proceeds. Mr. Perez holds a Bachelor
of Business Administration degree in Accounting with honors from the
University of Houston-Downtown. He is a graduate of Nicholls State
University where he received an Associate's degree in business. Mr.
Perez became a CPA in 1997 but no longer maintains his