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Carnegie Lake Advisors
Carnegie Lake Advisors LLC is an SEC-registered investment adviser in Princeton, NJ, registered since 2024. The firm manages $403 million in assets, with $350...
Carnegie Lake Advisors
Carnegie Lake Advisors LLC is an SEC-registered investment adviser in Princeton, NJ, registered since 2024. The firm manages $403 million in assets, with $350 million on a discretionary basis. It has 7 employees and 7 investment advisers.
General information
Firm type
Single Family Office
Year founded
2013
Location
Region
North America
Country
United States
City
Princeton
Corporate office
Princeton, NJ, United States
Principals
Andy Golden
President and Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Carnegie Lake Advisors?
Andy Golden serves as President and Chief Investment Officer. He joined the firm in May 2024 after retiring from the Princeton University Investment Company, where he spent 29 years managing Princeton's endowment. The single-family office previously operated under founding CIO Troy Dixon.
Where does the underlying wealth come from?
The wealth originates from David M. Rubenstein, co-founder and co-chairman of The Carlyle Group. Rubenstein launched Carlyle in 1987 alongside William Conway and Daniel D'Aniello, building it into one of the world's largest private equity firms. His personal fortune is publicly estimated at over $3 billion, generated primarily through his Carlyle ownership stake.
How does Carnegie Lake Advisors source its investment opportunities?
The firm sources primarily through Rubenstein's extensive network of fund manager relationships built over decades at Carlyle. Andy Golden's endowment background adds a second sourcing channel through his connections across institutional asset management. The firm engages in both fund commitments and direct co-investments alongside established managers.
Is Carnegie Lake structured as a traditional family office or does it operate differently?
Carnegie Lake Advisors operates as a single-family office dedicated exclusively to David Rubenstein and his family. The appointment of Andy Golden, an endowment CIO known for direct co-investment capabilities, suggests an evolution toward a hybrid model that blends fund-of-funds allocation with direct deal underwriting.
What asset classes does Carnegie Lake target?
The firm allocates across private equity, real assets including real estate and infrastructure, hedge funds pursuing absolute-return strategies, and private credit. Its approach reflects the institutional portfolio construction philosophy common among large single-family offices serving private equity principals.
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