in 1985, a young and ambitious Wall Streeter by the name of David Swenson took the helm of Yale University's endowment fund, which at the time was worth a mere $1 billion in value, and revolutionized how large pools of money are invested. At the time, the endowment accounted for roughly 10% of Yale's annual opertaing budget.
Fast forward to today, and proceeds from the Swenson-led endowment cover more than 33% of Yale's budget and is valued at more than $25 billion! There can be little doubt in Swenson's success when it comes to portfolio management. His revolutionary investment techniques are the groundwork that guides us in our Investment Management work.