The wait for the fourth president of the Princeton University Investment Company (PRINCO) is over. Vincent Tuohey, who is leaving the Massachusetts Institute of Technology (MIT), will serve as the next President, according to a University announcement on Nov. 6. He will succeed current PRINCO President Andrew Golden, who will retire on June 30, 2024 after a nearly 30-year tenure.
Tuohey will arrive at Princeton following more than 13 years of experience at MIT’s Investment Management Company (MITIMCo). At MITIMCo, he served as an investment director on the Global Investment staff, managing the Institute’s multi-billion dollar portfolio of funds and direct investments. This is not the highest position at MIT’s investment company — Tuohey serves under Seth Alexander.
MIT’s endowment is significantly smaller than Princeton’s — it currently totals $23.5 billion — but the two endowments followed a similar pattern of growth over the past 10 years, including a spike in 2021.
Picking an officer from another University follows a pattern: prior to working at PRINCO, Golden was the chief coordinating officer and portfolio strategist at Duke University’s Duke Management Co.
Before working at MITIMCo, Tuohey was a Senior Associate at Littlejohn & Co., a private equity firm located in Greenwich, Conn. He is also a decorated former captain in the U.S. Army, serving from 2002 to 2006 and receiving the Bronze Star Medal in Iraq, among other accolades.
Tuohay graduated from the University of Cambridge with a master’s degree in European studies, and from Harvard University with a bachelor’s degree in Economics. After his service, Tuohey earned his M.B.A. from Harvard Business School.
As Golden’s tenure as PRINCO president comes to a close at the end of this academic year, he will leave behind a legacy that boasts a nearly tenfold endowment growth during his time at PRINCO. In fact, the endowment reached a $37.7 billion valuation in 2021, with a 46.9 percent return for the year — the largest return rate since PRINCO’s establishment. More recently, the University’s endowment has endured an investment loss of 1.7 percent this year and 1.5 percent last year.
The endowment for the fiscal year that ended on June 30, 2023 was valued at $34.1 billion. It supports nearly all aspects of the University, particularly the financial aid program, research, the expansion of the student body, service programs, and outreach initiatives for first-generation, lower-income, veteran, community college, and transfer students.
Thomas Catalano is a contributing News writer for the 'Prince.'
Please send any corrections to corrections[at]dailyprincetonian.com.
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