Cambridge Associates

David Druley is CEO, and Sandra M. Boss chairs the board. Day-to-day investment policy is set by the investment committee, which includes senior partners such as Gary Robertson and others (per public record).

The firm leverages its extensive manager research team—one of the largest in the industry—to evaluate managers and source direct co-investment opportunities. It also maintains relationships with top-tier private equity and venture capital firms globally (per public record).

It is an independent, employee-owned investment advisory firm, not a family office. Cambridge Associates serves endowments, foundations, family offices, and pensions as an outsourced chief investment officer and investment consultant.

Both. It advises clients on fund commitments across private equity, venture capital, and hedge funds, and also helps them structure direct co-investments alongside managers in certain transactions (per public record).

Coverage spans all stages: venture, growth equity, buyout, and distressed, as well as real estate, infrastructure, and hedge funds. The exact allocation varies by client mandate.

The firm does not publicly disclose a list of excluded sectors, but its portfolio advice generally aligns with client-specific restrictions, including ESG preferences, rather than a firm-wide avoidance strategy.

Cambridge Associates advised the Yale University endowment during David Swensen's tenure as CIO, helping pioneer the endowment model that emphasized significant allocations to illiquid assets like private equity and real estate. The firm is widely credited with spreading this approach to other institutions (per public record).