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Princeton needs to transition from growth to focus because long-term rates of return are steadily declining across university endowments. This decline has been hard to see because returns have been volatile. In other words, returns have not been a steady 8 percent or 10 percent; instead, they have been all over the map.
The fund is slated to discuss an RFP at its February board meeting after exploring the addition of new managers in 2017 and conducting a search for firms in 2015 that was ultimately placed on hold.
The firm’s global head of investment research, a newly created role, joins after 25 years at WTW.
The city consolidated to one provider following a similar search process launched in 2015.
The firm has expanded the leadership of its investor solutions team with four senior hires.
The plan will target $600 million to private credit this year.
The retirement system also recently made commitments totaling $585 million.
The university’s director of endowment investments recently retired after 15 years of service at the institution, which outsourced management of its portfolio last year.
The university is searching for an investment analyst to join its generalist team and provide analytical, research and investment process support.
The firm recently hired a principal to source, execute and manage investments with a focus on healthcare and life sciences.