Princeton University Investment Company

Princeton University Investment Company

Princeton University Investment Company (PRINCO or Princo) is the investment management office of Princeton University, established in 1987 as a University office when endowment assets totaled $2.2 billion (per PRINCO organizational model page). It is organizationally distinct from the University but not a separate legal entity; its staff are University employees, and the President reports to both the University President and the Chair of the PRINCO Board of Directors (per organizational model). As of June 30, 2025, PRINCO manages Princeton’s Endowment, valued at $36.4 billion—the vast majority ($35.9 billion in managed investments) actively overseen by PRINCO—ranking among the five largest U.S. university endowments and the largest on a per-student basis (per PRINCO site, impact page, and Report of the Treasurer 2024-25). The endowment generated an 11.0% investment return for the fiscal year ended June 30, 2025, with a 20-year average annual return of 9.5% and 10-year annualized return of 9.0% (per Report of the Treasurer and PRINCO). PRINCO partners with a global network of external managers across developed and emerging market equities, independent return strategies (hedge funds), private equity (buyouts and venture capital), and real assets, with approximately 94% of the portfolio in equities or equity-like assets (per Treasurer Report and official descriptions). Endowment spending, totaling $1.8 billion in FY2025 at a 5.37% rate, provides roughly two-thirds of the University’s operating revenues, funding financial aid, research, and strategic initiatives while preserving real purchasing power (per PRINCO and Treasurer Report).