David Swensen, the pioneering Yale endowment chief who changed the course of institutional investing, died. He was 67.
His death was announced by Peter Salovey, the president of Yale. Mr. Swensen had undergone years of treatment for cancer.
Mr. Swensen grew Yale’s endowment from $1 billion when he started in 1985 to $31.2 billion in 2020 through an embrace of a diversified investment portfolio. He inspired a generation of investors with his approach and groomed protégés who went on“David served our university with distinction. He was an exceptional colleague, a dear friend, and a beloved mentor to many in our community,” Mr. Salovey, adding that Mr. Swensen’s investment philosophy reshaped institutional investing.
One of Mr. Swensen’s books, “Pioneering Portfolio Management,” went on to become a Bible for investment management.
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