Andrew Golden is stepping down from his post as president of Princeton University Investment Company.
Golden, who joined the $35.8 billion endowment in 1995, is set to retire on June 30, 2024. During his tenure, the endowment posted an annualized return of 12.6 percent.
“It’s been almost a three-decade marathon,” Golden said in a statement. “My goal for the year ahead is to sprint through the tape, and to make sure that Princeton is positioned for success over the next 25 years.”
In a statement, Golden said joining PRINCO was “love at first sight.” Under his supervision, the endowment has grown tenfold, according to the university, and has contributed almost $20 billion to Princeton.
“Andy Golden’s achievements are the stuff of legend,” said university president Christopher Eisgruber in a statement. “His brilliant leadership of PRINCO has changed the economic model of this university, enabling us to support financial aid, graduate stipends, research excellence, and the teaching mission in ways that would otherwise have been unimaginable.”
During Golden’s tenure, PRINCO has partnered with more than 70 investment firms, according to the announcement. At present, 26.8 percent of the endowment is managed by diverse-owned funds.
“It has been most gratifying for me to see the development of the university, and the development of my colleagues and even of our external managers over that time,” Golden said in a statement. “I think the hallmark of PRINCO, one of the things that distinguishes us, is that pursuit of partnership.”
Golden is PRINCO’s third president. He joined the organization from Duke Management Company, where he was an investment director. He had previously worked as a senior associate at Yale Investment Office. Golden studied philosophy at Duke University and obtained his master’s degree from the Yale School of Management. Before working as an investor, he was a professional photographer.
Golden is a member of the CFA Society New York and was a founding member of the Treasury Department’s Investors’ Committee of the President’s Working Group on Financial Markets.
He serves on the board of Park Agency, a family office, and on the investment committees at the Edmond J. Safra Foundation and the Cambridge University Endowment Fund. He is a trustee for the Princeton Area Community Foundation, the Rita Allen Foundation, and Rutgers Preparatory School.
Princeton is now searching for Golden’s successor. The university has hired David Barrett Partners to run the recruitment process.
