David Lee was named chief investment officer of the Palo Alto, Calif.-based Chan Zuckerberg Initiative, said a news release from the foundation.
The position is new. Mr. Lee will manage a $10 billion investment portfolio that will boost the organization's ability to fund its efforts across its three core initiatives: science, education, and justice and opportunity, the news release stated. He also will work closely with the initiative's investment committee.
Mr. Lee was a managing director at Princeton University Investment Co., which manages the Princeton, N.J.-based university's $25.9 billion endowment. University spokesman Michael Hotchkiss declined to comment.
The Chan Zuckerberg Initiative is the organization that directs the philanthropy, and holds much of the wealth of Facebook Inc. co-founder Mark Zuckerberg and his wife, Priscilla Chan.
Amy Dudley, a spokeswoman for the Chan Zuckerberg Initiative, could not be reached immediately for comment.
Bloomberg contributed to this story.
