University of Mississippi alumnus Stephen Griner wants to help make the University of Mississippi a leader in the digital asset realm of finance education.
Griner, managing director and founding partner of Magnolia Capital Advisors (MAG CAP) in Jackson, Mississippi, has committed to giving a portion of the revenue generated from his company’s hedge fund to the UM School of Business Administration. The gift will be used to support new course options, a student investment fund and related activities.
Photo by Maria Ramirez
“[Business School Dean] Ken Cyree and I discussed blockchain and digital assets and how we both believe they will be the financial infrastructure of the future,” Griner said. Blockchain is a system in which a record of transactions, especially those made in a digital asset such as cryptocurrency, is maintained across an online network.
“I have two teenagers who will hopefully be attending Ole Miss, and I’d like a blockchain course to be an option for them or at least have it covered in some upper-level finance classes,” Griner continued. “So, to get that started, I decided to gift 1.5% of the fees generated from the hedge fund.”
Griner’s gift could ultimately mean millions of dollars of support for the business school.
“This is booked as an estimate of a five-year revenue number: a $200,000 donation. But if the hedge fund is successful, that number could be astronomically more. And it doesn’t end there; this is in perpetuity,” he explained.
Here’s how it works: say the hedge fund has $20 million in investments and a 20% performance fee once returns are over 6% — the current industry standard. Then, for example, the fund makes a 250% return on investment, assuming it follows the S&P Top 10 Equal Weight Crypto Index which was up approximately 250% in 2023 and 2024 combined. A 250% return on $20 million is $50 million, so a 20% performance fee is $10,000,000 and 1.5% of that fee (or $150,000) would go to Ole Miss.
“Now imagine if the hedge fund has $100 million in it, you see the numbers can get really big,” Griner said. “In theory, if the business runs 40 years and is wildly successful, we could be giving $50 million. It’s purely a scale game.”
A resident of Madison, Mississippi, Griner graduated with honors from Ole Miss with a Bachelor of Accountancy in 1999 and an MBA with an emphasis in finance in 2000. He began his career as a financial adviser in 2001 and has served the financial needs of individual and institutional investors, retirees and business owners ever since.
Cyree is grateful for Griner’s vision and investment strategy.
“This is a unique and forward-looking strategy to invest in the future of our School of Business Administration,” the dean said. “It will position us to lead in the digital asset space of finance education. Going forward, our graduates will be increasingly exposed to cryptocurrency transactions and markets. Thus, Stephen’s generous gift will help prepare them for this important and emerging financial tool that promises many applications in the future.”
The gift is also designed to create a hands-on experience for students.
“I truly believe this will be the future of how finance is transacted, and I want Ole Miss to have an early mover advantage,” Griner said. “Additionally, we may let students actually manage a small sleeve of the fund and compete against other schools.”
A Columbia, Mississippi, native, Griner worked for Morgan Stanley, Merrill Lynch and then Raymond James before starting MAG CAP with two other Ole Miss graduates. He is a Certified Financial Planner™ (CFP®), Chartered Financial Analyst (CFA®), Chartered Retirement Plans Specialist (CRPS®), Certified Investment Management Analyst™ (CIMA®) and an Accredited Investment Fiduciary (AIF®).
He was named to the Financial Times Top 401 Retirement Plan Advisors, the Mississippi Business Journal Top 40 under 40, the Raymond James Retirement Plan Advisory Council, Financial Advisor IQ Leadership Council, and Grayscale’s Digital Asset Advisor Council.
He is also a member of the Mississippi CFA® Society Board of Directors, the Mississippi Capital Area Habitat for Humanity’s Executive Committee, and Grace Chapel Presbyterian Church.
At Ole Miss, he was a member of Sigma Nu fraternity.
Griner and his wife, Claire, met at The Gin restaurant over penny pitchers as Ole Miss students. They have two children: Morris, 17, and Lillian, 14.
“Hopefully my gift can help Ole Miss build out teaching this emerging niche area of finance,” the donor said. “Additionally, the more successful this fund is, the more money I end up donating. Hopefully this gift will help get the word out about the fund, so I can gift more money in the future.”
For more information about the Digital Asset Yield Fund, which supports Ole Miss, contact Griner at sgriner@magcapadvisors.com or (601) 362-4737, or visit https://www.entoroadvisors.com/day-fund.
To make a gift to the UM School of Business Administration, click here, or for more information, contact Patrick Salter at psalter@olemiss.edu or 662-915-3181.
By Bill Dabney/UM Foundation