With Andrew Golden planning
to retire by June 30, 2024, Princeton University
Investment Company (PRINCO) has named its next president, Vincent Tuohey for its $34.1 billion
endowment. Tuohey was recruited from his post as investment director on the
Global Investment staff for the $23.5 billion Massachusetts Institute of
Technology’s Investment Management Company (MITIMCo) where he is responsible
for managing a multi-billion-dollar portfolio of funds and direct investments
across multiple asset classes, including private equity, venture capital,
public equity, hedge fund, commodities and real estate, according to a PRINCO
press release. MITIMCo was “created to
manage and oversee the investment of the Institute’s endowment, retirement and
operating funds,” according to MIT.
Tuohey, a
decorated former captain in the U.S. Army, earned his M.B.A. from Harvard
Business School, a master’s degree in European studies from the University of
Cambridge and a bachelor’s degree in economics from Harvard University, which
he attended on an Army ROTC scholarship. He served in the U.S. Army from 2002
to 2006, earning the Bronze Star Medal while deployed to Iraq, among other
military awards for his leadership and achievement.
The president
of PRINCO reports both to the University president and to the chair of the
12-member PRINCO board of directors.
“Vince Tuohey
combines outstanding investment acumen and experience with proven leadership
ability,” President Christopher L. Eisgruber said. “He also has a deep
appreciation for Princeton’s mission and the special achievements of Andy
Golden and the superb team at PRINCO.”
Golden has
been president of PRINCO since 1995.
According to
media reports, Princeton’s endowment reported a net return of -1.7% for the
year ended June 30 and -1.5% for the year before. MITIMCo’s produced a return of -2.9% for the fiscal
year ended June 30, and a net return a -5.3% for the fiscal year ended June 30,
2022.
Tuohey joined
MITIMCo in 2010, and is responsible for idea generation, sourcing, selection
and relationship management of investments for MIT’s endowment and pension
fund. He has sourced investment opportunities and spearheaded numerous
initiatives in the U.S., Asia, Europe and Latin America.
He has led
multiple strategic reviews of MITIMCo’s asset allocation, portfolio
construction and competitive positioning. He was part of a small team, which
included MITIMCo’s president and MIT’s treasurer, that developed policy
frameworks for major financial decisions, including debt issuance, endowment
payout and pension fund management. He also represents MITIMCo on more than 15
advisory boards.
From 2016 to
2021, Tuohey was a Stephen M. Kellen Term Member at the Council of Foreign
Relations.
Before
working for MITIMCo, he was a private equity senior associate at Littlejohn
& Co. from 2008 to 2010.
Source: Princeton
