# Andrew Carnegie Foundation

Andrew Carnegie Foundation is an Endowment / Foundation based in New York, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 437 Madison Avenue, New York, NY 10022, United States
- **Founded:** 1911
- **Assets under management:** 4200 (Altss estimate)
- **Website:** carnegie.org
- **LinkedIn:** https://www.linkedin.com/company/carnegie-corporation-of-new-york

## Regulatory record

- **Reports private funds:** No

## About

Andrew Carnegie established Carnegie Corporation of New York in 1911 with an initial gift of $135 million. The foundation operates under a mandate to promote the advancement and diffusion of knowledge. Louise Richardson serves as its 13th president. The endowment allocates roughly 25 percent to private equity and maintains an absolute return portfolio valued at $900 million. Approximately 40 percent of assets sit in alternatives. Confirmed positions include limited partnership interests in Sequoia Capital China Funds, Accel Funds, Francisco Partners Funds, Catalio Nexus Fund IV, Flexport, Benchling, and Notion. Geographic exposure spans the United States and China. The foundation employs Cambridge Associates as investment consultant and RSM US LLP as auditor. Jon-Michael Consalvo was appointed CIO in 2024 after 15 years with the firm. Additional offices are not disclosed. The entity maintains memberships in the Council on Foundations and the Institutional Limited Partners Association. Governance separates the board of trustees from day-to-day investment decisions. Janet L. Robinson chairs the board. This architecture allows the foundation to sustain century-long grant programs while executing a diversified investment strategy through external managers.

## Sectors

- Education
- Philanthropy

## People

- Louise Richardson — President
- Janet L. Robinson — Chair

## Questions

### Who runs investment decisions at Carnegie Corporation of New York?

Jon-Michael Consalvo serves as Vice President and Chief Investment Officer. Cecelia Chen directs private equity and real assets allocations.

### Does Carnegie Corporation of New York participate in fund commitments or only direct deals?

The foundation acts as a limited partner in external funds. Holdings include Sequoia Capital China, Accel, and Francisco Partners vehicles.

### What asset classes does Carnegie Corporation of New York allocate to?

Allocations include private equity at a 25 percent target, absolute return strategies valued at $900 million, and alternatives that comprise about 40 percent of the portfolio.

### How is Carnegie Corporation of New York related to other Carnegie entities?

It provides ongoing support to Carnegie Endowment for International Peace, Carnegie Foundation for the Advancement of Teaching, and Carnegie Institution for Science.

### What investment stages does Carnegie Corporation of New York target through its managers?

Through external managers the foundation accesses venture, growth, buyout, and secondaries strategies.

## Related profiles

- [Frjalsi Pension Fund](https://altss.com/profile/frjalsi-pension-fund)
- [Athora Lebensversicherung](https://altss.com/profile/athora-lebensversicherung)

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Last updated: 2026-07-08T20:58:29.396Z

Canonical page: https://altss.com/profile/carnegie-corporation-of-new-york-ccny

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