The foundation has expanded its cio’s role to include overseeing financial operations as well as its compliance, audit and enterprise risk management functions.
The investment analyst will join the foundation’s private markets team and assist with overseeing and managing its investment across private equity, natural resources and real estate.
The credit manager completed its acquisition of the systematic fixed-income manager after acquiring a minority stake in the firm in 2023 that gave the firm the option to acquire control over a multi-year term.
The foundation is seeking a firm to provide discretionary investment management and strategic guidance for its portfolio, which includes endowed, non-endowed reserves and scholarship funds.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.
Princeton needs to transition from growth to focus because long-term rates of return are steadily declining across university endowments. This decline has been hard to see because returns have been volatile. In other words, returns have not been a steady 8 percent or 10 percent; instead, they have been all over the map.
The fund is slated to discuss an RFP at its February board meeting after exploring the addition of new managers in 2017 and conducting a search for firms in 2015 that was ultimately placed on hold.
The university’s director of endowment investments recently retired after 15 years of service at the institution, which outsourced management of its portfolio last year.
The firm recently hired a principal to source, execute and manage investments with a focus on healthcare and life sciences.
The search follows the university’s promotion of two investment analysts to senior investment analyst.