# Princeton University Investment Company

Princeton University Investment Company is an Endowment / Foundation based in Princeton, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Princeton, United States
- **Region:** North America
- **Address:** Princeton, NJ, United States
- **Founded:** 1987
- **Assets under management:** $36.4B (as of June 30, 2025)
- **Website:** princo.princeton.edu

## Regulatory record

- **Reports private funds:** No

## About

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).

## Sectors

- Venture Capital
- Private Equity
- Hedge Funds
- Natural Resources
- Real Assets
- Secondaries & Special Situations

## People

- Vincent J. Tuohey — President
- Bob Peck — Chair of the Princo Board of Directors
- Jennifer Birmingham — Managing Director
- Susan Ciniglio — Managing Director
- Theo Kim — Managing Director
- Jim Matteo — Vice President for Finance and Treasurer (ex officio Board member)

## Questions

### What is the current size of the endowment managed by PRINCO?

As of June 30, 2025, Princeton’s Endowment stood at $36.4 billion, with the vast majority actively managed by PRINCO (per PRINCO official site and Report of the Treasurer 2024-25).

### When was Princeton University Investment Company established?

PRINCO was established in 1987 by Princeton University’s Board of Trustees as a University office to manage the endowment, which then stood at $2.2 billion (per PRINCO organizational model page).

### What is PRINCO’s organizational structure?

PRINCO is organizationally distinct from the University but not a separate legal entity. Staff are University employees; the President reports to the University President and the Chair of the 12-member Board of Directors, which focuses on policy while staff handle execution including manager selection (per organizational model).

### How does the endowment support Princeton University?

Endowment spending provides roughly two-thirds of the University’s operating revenues, covering a majority of financial aid costs, research, capital projects, and strategic initiatives while aiming to preserve real value in perpetuity (per PRINCO impact page and Report of the Treasurer).

### What is PRINCO’s investment approach?

PRINCO partners with skilled external managers globally across public equities, independent return (hedge funds), private equity, and real assets, leveraging the endowment’s long horizon, size, and reputation for access to top-tier opportunities, with a strong bias toward equity-like assets (per investment strategy page and Treasurer Report).

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Last updated: 2026-07-17T21:48:30.000Z

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