Vincent Tuohey, investment director on the global investment staff at the Massachusetts Institute of Technology's Investment Management Co., has been named president of the Princeton University Investment Co., which manages the university's $34.1 billion endowment.
Tuohey will succeed Andrew Golden, who will retire at the end of the academic year, the university announced in a Nov. 6 news release.
"Vince Tuohey combines outstanding investment acumen and experience with proven leadership ability," Christopher L. Eisgruber, Princeton's president, said in the news release. "I am confident that Vince will be an excellent president for PRINCO as well as a valued colleague for all of us in the University administration."
Golden announced his retirement in April, effective June 30, 2024. He has been president of the Princeton University Investment Co. since 1995.
Princeton's endowment reported a net return of -1.7% for the year ended June 30 compared to a net return of -1.5% for the year ended June 30, 2022.
The assets of $34.1 billion for the fiscal year ended June 30 were down 5% from $35.8 billion for the previous fiscal year. The Massachusetts Institute of Technology, Cambridge, last month reported that the university's "Pool A" primary investment pool, dominated by MIT's endowment assets, produced a return of -2.9% for the fiscal year ended June 30, according to an annual report.
The net return was -5.3% for the fiscal year ended June 30, 2022. Assets for the just completed year of $23.5 billion were 4.7% lower than the year-ago period.
Tuohey joined the Massachusetts Institute of Technology Investment Management Co. in 2010, according to the Princeton news release. Before that, he was a private equity senior associate at Littlejohn & Co. from 2008 to 2010.
The Princeton news release, citing information from MIT, said Tuohey manages "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."
An MIT spokesperson referred P&I to the MIT Investment Management Co. website, which is advertising for a global investor.
"As an investor in third-party investment firms, the global investor's role will extend to evaluating both the people who run them and the assets they own," the website said.
The global investor will be a member of the internal investment committee and "formulate and voice independent opinions, regardless of experience or tenure," the website said. "We employ a generalist model and do not use titles; this aligns with our philosophy of group responsibility (successes and failures are borne as a team) and voices being weighed equally."
