Stanford Launches 2nd Long-Term Investing Fellowship Cohort

The Stanford Research Initiative on Long-Term Investing, a division of the university’s school of engineering that studies asset owners and institutional investors, has opened applications for the second cohort of its long-term investing fellowship.

The program aims to teach fellows about the world of institutional investing through research at Stanford University and work experience at the California Public Employees’ Retirement System, the largest public pension fund in the U.S.

Stanford will hire four graduates from undergraduate and master’s programs for the one-year program. Fellows, over the course of one year, will split their time between the university and various teams and rotations at CalPERS.

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The first cohort began its work at the SLTIF last year.

“CalPERS is the largest public pension system in the nation, deploying billions of dollars into critical industries such as climate solutions and clean energy, and the SLTIF will provide a unique pathway of deep understanding and opportunity to build a career shaping this industry,” the announcement stated. “This is a chance to go into the heart of one of the largest and best-known public pensions on earth.”

Applications for the cohort opened February 21 and are due by March 31. The program is led by pension and institutional investing academic Ashby Monk, the research director of the Stanford Research Initiative on Long-Term Investing.

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Tags: Ashby Monk, California Public Employees’ Retirement System, CalPERS, LTIF, Stanford Long-Term Investing Fellowship, Stanford Research Initiative on Long-Term Investing, Stanford University

John Lawrence

The $8.1 billion Rice Management Co., the endowment of Rice University, announced Wednesday the promotion of John Lawrence to CIO. Lawrence succeeds Allison Thacker, who stepped down as president and CIO of the endowment in September 2024 after 13 years in the role.

Lawrence, who joined the Houston-based endowment in 2012, was named deputy CIO in 2022 and interim CIO in October 2024, following Thacker’s resignation. The university worked with executive search firm Spencer Stuart to fill the role.

Lawrence, like his successor, is a Rice alumnus, holding a bachelor of arts degree in managerial studies from the university, as well as an MBA from the Anderson School of Management at the University of California Los Angeles. Prior to joining the Rice endowment, Lawrence worked at Transamerica Investment Management and at Tudor, Pickering, Holt & Co.

“As a Rice alumnus, I am honored and enthusiastic to take on this role with my alma mater and where I’ve had the privilege to work alongside some of the brightest minds in investment management,” Lawrence said in a statement. “Our goal is to be the preeminent endowment in the world in terms of performance, people and reputation.”

The fund returned 4% in fiscal 2023, and as of June 30, 2024, the endowment had returned 9.6% and 8.6% over the past five- and 10-year periods, respectively.

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