Wellcome Trust (Fund IX)

Overview

Wellcome Trust, founded 1936 from the legacies of pharmaceutical magnate Henry Wellcome, is the UK's largest charitable foundation and the world's fourth-wealthiest, with a GBP37.6bn endowment (2025). Runs one of the most sophisticated investment operations in European philanthropy -- roughly 45% allocated to alternatives (private equity, venture capital, real assets, infrastructure, hedge funds, private credit) alongside public equities and direct investments. Unlike US private foundations, has no legally mandated minimum payout rate, giving its investment team unusual flexibility to accept illiquidity.

Key Facts

Type

Foundation

AUM

GBP 39.9B