Princeton University

The Princeton University Investment Company (PRINCO) manages the endowment. Vincent J. Tuohey serves as its president, leading the internal team. He reports to a board of directors chaired by Bob Peck, with oversight from University President Christopher L. Eisgruber, who serves as an ex officio member.

PRINCO's board combines institutional leadership with direct investment expertise. Bob Peck, a managing director at FPR Partners, chairs the board. Other board members include Gordon Ritter, co-founder of venture firm Emergence Capital, and Anthony Yoseloff, executive managing member at Davidson Kempner Capital Management.

PRINCO's portfolio exhibits a massive concentration in private equity buyout strategies. The endowment looks to commit to external managers and direct transactions to capture illiquidity premiums. It deploys a geographic mandate that spans developed markets globally, backed by a perpetual time horizon.

No. The endowment's real assets include commercial properties such as 91 Prospect Avenue and the large-scale Princeton Forrestal Center. The university also holds operational assets, including an electric bus fleet and research vessels used in oceanographic studies near Puerto Rico and Bermuda.

Unlike a single-family office investing a concentrated source of wealth, PRINCO manages a centuries-old charitable pool. The lack of a living wealth creator allows governance by committee and eliminates key-person risk on the asset side, permitting a purer focus on absolute-return, long-duration illiquid strategies.