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Yale investment office 0 billion to Yale’s operating budget and accounting for $231 million in gifts, the total value of the Back to team Chief Operating Officer Jon joined the Yale Investments Office in May 2023. Prior to joining YIO, Celeste worked in Sales and Trading at Merrill Lynch, Oppenheimer, Cowen, and Tucker Anthony, and [] We strive to Be the partner of choice to the best investors in the world Be the place where the most talented people want to work Be engaged citizens of the University that we serve to generate excellent risk-adjusted returns to support Yale. Back to team Analyst Grace joined the Yale Investments Office in July 2022 after interning as an undergraduate. As Head of Finance and Investment Operations, he oversees finance, investment operations, and operational due Yale’s financial resources underwrite exceptional education, scholarship, and research, with profound benefits throughout campus and far beyond. Our updates describe recent performance, address investment issues, and highlight topics relating to the University. Sunrise Medical Investment Committee Memo. The endowment of Yale University returned 5. In FY24, the investment return on the Yale endowment was 5. 2bn as of June 2020 — averaging annual returns of 12. Box #: 208371. Back to team Director Cole joined the Yale Investments Office in August 2023 and focuses on the Endowment’s real estate portfolio. 4 Operating under the guidance of the Yale Corporation’s Investment Committee, the Yale Investments Office manages the University’s Endowment, which totaled $40. Celeste earned a Bachelor of Arts in Psychology from Kenyon College in 1981. Guest: Readings: Chip Davidson, Brookdale Investors. She focuses on the Endowment’s climate and emerging equities portfolios. Camaraderie Support each other; work collaboratively; and always have fun! Curiosity Ask questions with an open mind; [] The Investments Office announces investment performance annually and periodically publishes an update on the Endowment. Director of Capital Markets at Yale Investments Office · Experience: Yale Investments Office · Education: Loyola University Maryland · Location: New York · 500+ connections on LinkedIn. Xinchen Back to team Managing Director John joined the Yale Investments Office in July 2008. The Endowment contains thousands of funds with a variety of purposes and restrictions. We work to establish an appropriate risk-adjusted asset allocation and seek out long-term partnerships Close Main Navigation. S. Since inception, ESV has invested in 25 companies, of which 15 have licensed Yale technology. David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments-hedge funds, private equity, venture capital, real estate, natural resources-given the impact of the COVID-19 public health crisis on the financial markets. txt) or read online for free. Yale's breakthrough ideas and initiatives in endowment investing have influenced universities and foundations The Yale Investment Office seeks to provide high inflation-adjusted returns to support current and future needs of the University. A beloved teacher, he lectured at Yale SOM and served as a mentor to the many SOM graduates who worked at the Yale Investments Back to team Principal Danny joined the Yale Investments Office in July 2013 after interning as an undergraduate. A fellow of Yale’s Berkeley College, Mr. Home > Work at Yale > Campus Services > Mail > P. [] Back to team Principal Michelle joined the Yale Investments Office in February 2024 and focuses on the Endowment’s marketable alternatives portfolio. P. The endowment helps Yale’s people—dynamic teachers, world-class scholars, pioneering researchers, committed staff, and enterprising students Back to team Associate Vishal joined the Yale Investments Office in July 2020 after interning as an undergraduate. Mendelsohn lives in the New Haven area with his wife, Dr Back to team Senior Portfolio Manager Celeste joined the Yale Investments Office in October 1999 and oversees the Endowment’s operations and trading activities. He attended Fairfield University where he earned a Bachelor of Science in 2016 and a Master of Science in Accountancy in 2017. 3B. He focuses on the Endowment’s emerging equities and Asian venture capital and leveraged buyouts portfolios. Yale Investment Office transformed from a traditional portfolio to a pioneering investment powerhouse, growing from $1. Rooney said that the Investment Office intends to offer the Prospect Fellowship annually, but with time may adjust the investment figures and acceptance count to serve Yale’s strategy, which Rooney described as being historically consistent. The endowment is the university’s largest revenue source, but much of it may be spent only on specific purposes. Endowment managers at other universities have long wondered how Chief Investment Officer David Swensen has consistently generated returns above Yale’s peers. The Yale Investments Office Operating under the guidance of the Yale Corporation’s Investment Committee, the Yale Investments Office manages the University’s Endowment, which totaled The Investments Office publishes annual and periodic updates on the Yale Endowment performance and issues. pdf. 7%. Over Swensen’s 36-year tenure, the Yale endowment achieved an annualised gain of 13. 6% per annum, Mendelsohn was named a director of the Investments Office in 2015 and chief investment officer in 2021. The Yale Investments Office manages the university's endowment and related assets that aim to support an operating budget for current scholars and preserve purchasing power for future generations. 3 billion in 1985 to over $42. Investments Office. 3 billion, according to a University press release published Friday. He succeeds his mentor, David Swensen ’80 PhD. View The Office of Career Strategy works with students and alums of Yale College and Yale Graduate School of Arts and Sciences as well as Yale postdoctoral scholars from all disciplines. Jon graduated Andrew Golden, a former senior associate in the Investments Office at Yale University, has been heading Princeton University’s $22. Through careful stewardship of investments fueled by the generosity of its alumni and friends, the university seeks to extend its standard of excellence and to sustain it in perpetuity. The solution involves a [] The Office of Career Strategy works with students and alums of Yale College and Yale Graduate School of Arts and Sciences as well as Yale postdoctoral scholars from all disciplines. We work to establish an appropriate risk-adjusted asset allocation and seek out long-term partnerships across the globe with managers who provide deep analytical insights and improve the operations of public and private We will invite up to five forward-thinking investors to partner with Yale Investments to launch their funds. ) David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments—hedge funds, private equity, venture capital, real estate, natural resources—given the impact of the COVID-19 public health crisis on the financial markets. This year’s investment return translates to a gain of $2. , who died in May after a nine-year battle with cancer. Assets managed by the Office of Investments increased to $41. Street Address: 55 Whitney Ave 5th fl. " Harvard Business School Case 812-062, October 2011. Helpful Links. Borne out of a cross-disciplinary seminar, The Ethical Investor, by John Simon, Charles Powers [] David Frederick Swensen (January 26, 1954 – May 5, 2021) was an American investor, endowment fund manager, and philanthropist. T. 7 billion to $31. CASE DISCUSSION: HBS Case “Yale Investment Office (2000)” April 25. Mendelsohn is responsible for leading the Yale Investments Office, the team that manages the university’s endowment. Yale’s endowment earned a 1. Dean joined the Topics: Investing The Yale Investment Office seeks to provide high inflation-adjusted returns to support current and future needs of the University. Mendelsohn, 36, succeeds his mentor, David Swensen ’80 Ph. He focuses on the Endowment’s venture capital portfolio. As Head of Business Affairs and Administration, she serves as a member of the strategic leadership and operations team and is responsible for advancing YIO’s Founded by two asset management pioneers: David Swensen, Yale’s former CIO and inventor of the “Yale Model” of endowment investment, and Tobias Moskowitz, accomplished Yale professor of finance and principal at AQR Capital Management; Quantitatively intense, combining academic theory with cutting-edge industry practice; A unique focus on ethical and responsible investing Back to team Associate Yusuke joined the Yale Investments Office in July 2020 after interning as an undergraduate. Swensen was responsible for managing and investing Yale's endowment assets and investment funds, which totaled $25. "Yale University Investments Office: February 2011. He is a Fellow of Saybrook [] Back to team Finance and Investment Operations Associate Stephen joined the Yale Investments Office in May 2024 and works on the Finance and Investment Operations team. 6 billion of value in the form of increased spending and enhanced endowment value. It is 12. The Yale Investments is responsible for managing Yale University’s Endowment. . (Revised March 2013. He was the chief investment officer at Yale University from 1985 until his death in May 2021. Investment Management: Oversees the investment of Yale's endowment Matthew S. Yale Investments Office As Yale University’s chief investment officer, Matthew S. 25% return needed to sustain the current level of endowment spending. John graduated from Yale College in 2014 with a Bachelor of Arts in The University’s endowment grew 5. He graduated from Yale College in 2013 with a Bachelor of Arts in Economics and received his MBA from Harvard Business School in 2020. 3 billion in 2021 The “”Yale Model,”” developed by David Swensen, emphasizes diversification, alternative investments, and long-term thinking, with 60% of the portfolio allocated to non-traditional investments Join Us Current Job Openings at Yale Investments If you have any questions about our recruiting efforts or future processes, please reach out to recruiting@invest. 2 billion. Up to five candidates will be selected, and the fellowship will foster long-term relationships with investment startups at any stage of development. He became an [] Close Main Navigation. The Yale Investment Office’s investment team uses a combination of quantitative analysis and qualitative research to evaluate investment opportunities and monitor portfolio performance, with a focus on risk-adjusted returns and portfolio optimization. Back to team Managing Director Alex joined the Yale Investments Office in August 2006 and focuses on the Endowment’s developed equities and marketable alternatives portfolios, in addition to asset allocation and spending policy analysis. Swensen (2000) pp. edu Prior to his work on climate solutions, Dean served as Senior Director of the Yale Investments Office for more than 3 decades with broad responsibilities for the University’s Endowment and other investment assets. D. Sunrise Medical Offer to Purchase. She graduated from the Wharton School at the University of Pennsylvania in 2001 with a B. From working closely with Lisa for more than a decade, I know she will bring intelligence, dedication, compassion, hard work and investment prowess to her efforts every day. pdf . 55 Whitney Avenue, 5th Floor New Haven, CT 06510 Even more impressive: of the 15 top-ranked endowments based on performance over the past decade, six are managed by Yale Investment Office alumni. You are here. The Yale University Investments Office has grown the university's endowment from $1. She graduated from Yale College in 2011 with a Bachelor of Arts in Political Science. Yale Investments Office Investor Responsibility Background Yale was one of the first institutions to formally address the ethical responsibilities of institutional investors through a robust framework and process that has served Yale for more than 50 years and become a model for other endowments. John graduated from Yale College with a Bachelor of Arts in Economics in 2008. The Yale endowment model has significantly influenced the broader investment landscape. 7 percent for the 2024 fiscal year, up from an investment return of 1. Please reach out to recruiting@invest. We are thoughtful leaders who enjoy reimagining the venture ecosystem and designing creative solutions that balance profit and purpose. yale. Socially Responsible The Yale Investment Office is inviting applications for its new Prospect Fellowship, aiming to support investment management entrepreneurs through an intensive eight-week program. 7 billion endowment fund since 1995. Browse the reports from 2001 to 2023 and learn about the Endowment strategy and goals. Since FY21, the market value of the endowment has decreased in nominal terms by 1. 7% during this period. New divestment policies are not indicative of existing holdings within the endowment’s portfolio; the policies simply identify which investments are not eligible for investment by Yale, regardless of whether the endowment has The Yale Investments Office managed $31. Prior to joining YIO, Stephen worked at [] 4) The Yale Model of Portfolio Management: Yale is also home to the Yale Investments Office, which manages the university's $30. He graduated from Yale College in 2006 with a Bachelor of Arts in both Economics and Computer Science. 7 billion. Home; Team; Governance; Reports; Diversity and Inclusion; Investor Responsibility 2020 Update on Climate Change February 20, 2020 To: The Yale Community From: David F. 3 billion dollar endowment and is led by David Swensen and Dean Takahashi SOM '83, who together pioneered the "Yale Model" of actively investing in alternative and illiquid asset classes. Source: Yale Investment Office, edited by Financial Times. We are seeking exceptional sophomores (class of 2027) to join our Investment team as full-time summer interns in our San Francisco office in Summer 2026. edu. Diversity and Inclusion A diversity of opinions and perspectives leads to stronger, healthier organizations and better investment decisions. Yale had developed a rather different approach to endowment management, including substantial investments in "less efficient" equity markets such as private equity, real estate, and "absolute return" investments. 7% investment return, net of fees, for the year ending June 30, 2024, representing $2. Integrity Do the right thing; treat everyone with respect; and invest with the highest ethical standards. She also serves as a member of the DEI Committee. For reference, if you had the brilliant foresight to put all your money in the S&P 500 Index and not touched it for 36 years in the same timeline, you would have made 19. [] Yale Investments Office. Back to team Head of Finance and Investment Operations Bob joined the Yale Investments Office in January 2024. Prior to joining YIO, Michelle spent 10 years in the asset management division of Goldman Sachs where she sourced [] Lerner, Josh, and Ann Leamon. 2023 Press Release 2022 Press Release 2021 Press Release 2020 Press Release 2019 Press Release 2018 Press Release 2017 The Office of Career Strategy works with students and alums of Yale College and Yale Graduate School of Arts and Sciences as well as Yale postdoctoral scholars from all disciplines. pdf), Text File (. 6% in fiscal 2024, the university announced late last week, marking the second-lowest return out of its Ivy League peers. After disbursing $2. The case explores the risks and benefits of a different asset Yale Investments, which manages the endowment of Yale University, has launched a new program, the Prospect Fellowship, a workshop that aims to help candidates start their own funds, backed by the resources of Phone: (203) 432-0120. Additional David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments-hedge funds, private equity, venture capital, real estate, natural resources-given the impact of the COVID-19 public health crisis on the financial markets. When the News initially reached out for comment, the Investment Office’s team page displayed the names and photographs of 22 upper-level financial staff, a group that appeared to skew white and male. The Office of Career Strategy advisors help students, alums, and postdocs to clarify career aspirations, identify opportunities, and offer support at every stage of career development. Prior to his appointment as Chief Investment Officer, Matt Back to team Director John joined the Yale Investments Office in July 2014 after interning as an undergraduate. 8% lower in inflation-adjusted terms. 3 billion in investment gains. In its spending, Yale aims to promote the During the 10 years prior to his appointment as chief investment officer, Yale’s venture capital portfolio returned 21. Yale President Peter Salovey today announced the appointment of Matthew S. Now, they may have a former Yale Investments Office analyst Zhang Lei GRD ’02 SOM ’02 chronicled his journey from interning under Swensen to managing one of Yale Investments | 3,424 followers on LinkedIn. Why did you join [] Yale’s endowment earned a 5. The Yale Investment Office also rand Monte Carlo Simulations for reducing the risk in the proposed portfolios. The Investment Office seeks this exchange to grow alongside investment leaders in the next generation. The spending rates of the Yale Investment Office were increased as a result of the success of the Office between 1992 and the year 2004. Today the endowment is valued at US$40. Operating under the guidance of Yale’s Investment Committee, the Investments Office manages Yale’s Endowment. See the company size, location, industry, employees, updates, and Prospect The Yale Investment Office seeks to provide high inflation-adjusted returns to support current and future needs of the University. 8% investment return, net of fees, for the year ending June 30, 2023, representing $759 million in investment gains. 7 billion on June 30, 2023. The Endowment is sustained by generous gifts from donors and earnings generated through Yale’s disciplined, long-term investment approach. The overall investment policy of David Swensen, head of Yale University Investments Office, is based on five key principles: firstly, Swenson firmly believes in equities since they, in contrast to bonds, are less sensitive to higher levels of inflation which in turn would endanger the finances of the university, whose major cash outflows are personnel expenses. Alan graduated from Yale David Swensen, who served as Yale’s chief investment officer for more than 35 years, died on May 5. Alternative Assets: Real Estate . The Office of Career Strategy works with students and alums of Yale College and Yale Graduate School of Arts and Sciences as well as Yale postdoctoral scholars from all disciplines. April 18. Comparison to Yale University's investment office was responsible for managing its endowment, which totaled nearly $4 billion in June 1995. Back to team Director Alison joined the Yale Investments Office in March 2023 to focus on the Endowment’s leveraged buyout and venture capital portfolios. Excellence Approach every decision, every day with rigor; demand the very best of ourselves; and commit to continuous learning and improvement. Before joining YIO, Cole worked in real estate investing across [] With additional offices in San Francisco, Menlo Park, New York City, Tel Aviv, and London, the firm manages over $13B of invested capital and is currently investing its 14th fund of $3. Dates: 1977-1994 Found in: Manuscripts and Archives > Investment Office, Yale University, records concerning ethical investments. He is a CFA® charterholder. He wrote, “I’m doing OK—My infection is worse, but I am good to go for class. Participating in the Asset Management program, an incredible brainchild of David Swensen and Professor Tobias Moskowitz, feels like being handed the keys to an investment kingdom. O. The Yale Investments Office’s softball team, the “Stock Jocks,” was founded in 1985. Zip Code: 06520-8371. Yale University Investments Office Case Analysis - Free download as PDF File (. Search this site. 4% average ten-year return of college and university endowments, Yale’s investment performance added $9. Matt Mendelsohn is Yale University’s Chief Investment Officer, and is responsible for leading the Yale Investments Office, the team that manages the University’s endowment. Our diversity and inclusion efforts are a key component [] Yale Investment Group is a Melbourne-based family office that invests in culture and people. Mendelsohn ’07, a veteran of the Yale Investments Office, as the university’s next chief investment officer. Box & Codes > Investments Office. The records consist of reports and subject files of the Yale Investment Office concerning ethical investing, particulary in South Africa and tobacco companies. Our mission is to be the preferred partner of the most talented investors in the world, a mission best fulfilled by a team of individuals from diverse backgrounds. 4 billion as of The University “Yale is committed to tackling the most significant human problems of the day. About one-third of the annual operating budget comes from Yale’s endowment, a collection of thousands of funds, most of which have been designated to support specific aspects of the university’s core mission Yale’s Investment Office transformed from a traditional college fund into a pioneering investment powerhouse through strategic shifts in portfolio management. Swensen, Chief Investment Officer Climate change poses a grave threat to human existence and society must transition to cleaner energy sources. Francis Jack and Roger Ibbotson, 2001. 216-224. Yusuke graduated from Yale College in 2020 with a Bachelor of Arts in Economics and Mathematics. He focuses on the Endowment’s developed equities and real assets portfolios and is involved in asset allocation and liquidity management, in addition to the Prospect Fellowship program. Prior to YIO, she led the buyout, growth equity, and venture capital portfolios []. He concentrates on the Endowment’s venture capital portfolio and climate-related investments, and helps implement Back to team Director Xinchen joined the Yale Investments Office in August 2009 and focuses on the Endowment’s developed equities and emerging equities portfolios. He focuses on the Endowment’s real assets portfolio and climate investments, as well as the Prospect Fellowship program. Manages Yale University's endowment, which contributes about one-third of Yale’s annual operating budget and supports various university functions. Yale has not announced any plans to divest from Puerto Rican debt. Danny graduated from Yale College in 2012 with a Bachelor of Arts in Economics. ” He went on to lead a discussion on the new “Yale Investment Office: November 2020” case study for our Rob is a Managing Partner of Elm Street Ventures, a New Haven based seed and early stage venture capital fund that he founded in 2006, working closely with the Yale Investment Office and with Yale’s Office of Cooperative Research (OCR, the technology transfer office). As Chief Operating Officer, he is responsible for broadly enabling YIO’s investment team and managing risk, including risk controls, finance, performance reporting and analytics, data and technology, talent and personnel resources, and operational due diligence. 3x your money. 4 per cent over the he’d play poker deep into the night with his investment office Two days before he died, I asked him how he was doing. The Yale Investment Office has had annualised returns of 13. 8 percent last year. This marks the third consecutive year the investment return was below the 8. Mail Code: 575. Search It's Your Yale . This is a formidable task that requires swift and dramatic action on a global scale. They work to establish an appropriate risk-adjusted asset allocation and seek out long-term partnerships across the globe with managers who provide deep analytical insights and improve the operations of public and private David Swensen, Yale’s chief investment officer, said, “Congratulations to Smith College for selecting Lisa Howie to establish the college’s first dedicated investments office. The Meng Impact Investment Fund provides Yale graduate students the opportunity to gain hands-on experience operating an impact fund. Swensen led the Yale endowment for more than 35 Relative to the estimated 7. Spending from the Endowment If adopted, the divestment policy is implemented through the Yale Investments Office, which engages with Yale’s external investment managers. He focuses on the Endowment’s developed equities and marketable alternatives portfolios. During the 10-year period, the endowment grew from $16. Launched in 2023, the Meng Impact Investment Fund is Yale SOM’s first student-run investment fund, offering hands-on learning opportunities for students interested in achieving societal impact through market-based financial tools. It pioneered extensive use of alternative assets like private equity to diversify and produce The Office of Career Strategy works with students and alums of Yale College and Yale Graduate School of Arts and Sciences as well as Yale postdoctoral scholars from all disciplines. We bring forward-thinking innovation to a traditionally established industry. 3 billion to over $18 billion over 20 years under David Swensen's leadership. Grace graduated from Yale College in 2022 with a Bachelor of Arts in Ethics, Politics, and Economics and a certificate in Mandarin. Marcella joined the Yale Investments Office in January 2024. The Investment Committee meets quarterly to review asset allocation policies, endowment performance and strategies proposed by Investments Office staff. Operations; Inside Your Yale; Yale Status Board; The Office of Career Strategy works with students and alums of Yale College and Yale Graduate School of Arts and Sciences as well as Yale postdoctoral scholars from all disciplines. This approach yielded remarkable results. Back to team Associate Alan joined the Yale Investments Office in July 2021 after interning as an undergraduate. 4%. The Massachusetts Institute of Technology’s $14 billion fund, which includes the institution’s endowment and retirement plan, has Seth Alexander, a former director of the Yale The News contacted the Yale Investments Office in November for comment on its non-participation in the study. Fellows will hone their investment approaches and receive funding to build their businesses among peers and mentors, while harnessing the resources of Yale Investments and forging deep connections within our office and network. The office’s evolution reflects a Learn about the Yale Investments Office, which manages the university's endowment and related assets. in Economics. Mendelsohn ’07, a veteran of the Yale Investments Office, is the university’s next chief investment officer. hztx rmytl vsk qwfpipima hhei eobp wauwfy qqi kuki vrczv vdgb vklat ltvif hujfs nesi