University of the Virgin Islands

These Buccaneers pursue a different treasure

There was a time when pirates plied the waters of the Caribbean in the pursuit of gold and other treasure. The Buccaneers mascot of the University of the Virgin Islands (UVI) recalls that era long ago, but today the treasure is vastly different:

It’s education…toward that goal, UVI is an institution on the move.

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The school recently announced a $30 million gift from Dr. Chirinjeev Kathuria, chairman of New Generation Power, to help establish a state-of-the-art medical school. The gift is key to developing a high-quality medical education program that relies on innovative teaching techniques to produce knowledgeable physicians committed to the Virgin Islands. Another recent gift, of $5 million, is funding the Kiril Sokoloff entrepreneurship program, including an endowed chair and an entrepreneurship competition. Through its Caribbean Green Technology Center, UVI is in the process of establishing a solar energy plant on each of its two campuses. The plants, producing a total of 3.1 megawatts, are intended to reduce dependence on fossil fuels by 50 percent by 2015.

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UVI offers 45 undergraduate and graduate academic programs in five schools and colleges: business, education, liberal arts and social sciences, nursing, and science and mathematics. Evidence of academic progress: UVI science, technology, engineering and mathematics (STEM) students are going on to seek doctoral degrees and reaching their goals at rates above the national average (88 percent versus 50 percent). In 2013, five UVI STEM alumni earned their PhDs. Among UVI’s 7,000 alumni are two Rhodes Scholars and a Pulitzer Prize-winning journalist.

Some 2,500 students attend classes on UVI’s two campuses—the Albert A. Sheen campus on St. Croix and the St. Thomas campus. UVI enriches the community of which it is a part by offering arts and entertainment for the territory. The Reichhold Center for the Arts offers world-class performances by international entertainers. The university’s Sports and Fitness Center serves as host for the well-known Paradise Jam Basketball Tournament that attracts NCAA Division I teams.

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UVI was founded in 1962 as the College of the Virgin Islands (CVI) by an act of the legislature of U.S. Virgin Islands. The following year, the first campus opened on St. Thomas, situated on 175 acres donated by the federal government. In 1964, the college founded a second campus on St. Croix, on 130 acres also donated by the federal government. In 1972, CVI was awarded Land-Grant status by the U.S. Congress, and in 1986 it was renamed the University of the Virgin Islands to reflect the growth and diversification of its academic curricula, community and regional services, and research programs. That same year, the U.S. Congress named UVI one of America’s Historically Black Colleges and Universities (HBCU), thus giving it the distinction of being the only HBCU outside the continental U.S. UVI’s Foundation (FUVI) supports the University’s educational efforts and provides assistance for special projects and initiatives.

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Disclaimer

Information, opinions, or commentary concerning the financial markets, economic conditions, or other topical subject matter are prepared, written, or created prior to printing and do not reflect current, up-to-date, market or economic conditions. Commonfund disclaims any responsibility to update such information, opinions, or commentary. To the extent views presented forecast market activity, they may be based on many factors in addition to those explicitly stated in this material. Forecasts of experts inevitably differ. Views attributed to third parties are presented to demonstrate the existence of points of view, not as a basis for recommendations or as investment advice. Managers who may or may not subscribe to the views expressed in this material make investment decisions for funds maintained by Commonfund or its affiliates. The views presented in this material may not be relied upon as an indication of trading intent on behalf of any Commonfund fund, or of any Commonfund manager. Market and investment views of third parties presented in this material do not necessarily reflect the views of Commonfund and Commonfund disclaims any responsibility to present its views on the subjects covered in statements by third parties. Statements concerning Commonfund’s views of possible future outcomes in any investment asset class or market, or of possible future economic developments, are not intended, and should not be construed, as forecasts or predictions of the future investment performance of any Commonfund fund. Such statements are also not intended as recommendations by any Commonfund entity or employee to the recipient of the presentation. It is Commonfund’s policy that investment recommendations to its clients must be based on the investment objectives and risk tolerances of each individual client. All market outlook and similar statements are based upon information reasonably available as of the date of this presentation (unless an earlier date is stated with regard to particular information), and reasonably believed to be accurate by Commonfund. Commonfund disclaims any responsibility to provide the recipient of this presentation with updated or corrected information. Past performance is not indicative of future results. For more information please refer to Important Disclosures.