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Updated 2:03 PM ET, Thu May 6, 2021
New York (CNN Business)David Swensen, the long-time chief investment officer at Yale University and a legend in the world of college endowments, died Wednesday at the age of 67.
Yale president Peter Salovey wrote about Swensen s death in a statement Thursday, saying that Swensen died following a long and courageous battle with cancer.
Swensen graduated from Yale with a Ph.D. in economics in 1980 and then worked briefly at Wall Street investment banks Lehman Brothers and Salomon Brothers before returning to Yale in 1985 as head of the Ivy League school s investment office.
Under Swensen s management, the endowment fund grew to more than $31 billion as of 2020 to become the second largest in the nation trailing only arch rival Harvard. Yale s endowment stood at about $1 billion when Swensen took over.
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David Swensen, the long-time chief investment officer at Yale University and a legend in the world of college endowments, died Wednesday at the age of 67.
Yale president Peter Salovey wrote about Swensen’s death in a statement Thursday, saying that Swensen died following “a long and courageous battle with cancer.”
Swensen graduated from Yale with a Ph.D. in economics in 1980 and then worked briefly at Wall Street investment banks Lehman Brothers and Salomon Brothers before returning to Yale in 1985 as head of the Ivy League school’s investment office.
Under Swensen’s management, the endowment fund grew to more than $31 billion as of 2020 to become the second largest in the nation trailing only arch rival Harvard. Yale’s endowment stood at about $1 billion when Swensen took over.