Princeton Names Vincent Tuohey Next Endowment President

Vincent Tuohey

Princeton University has named Vincent Tuohey as the next president of the Princeton University Investment Co., which manages the university’s $34.1 billion endowment. Tuohey will succeed Andrew Golden, the organization’s longtime president, who plans to retire in June 2024.

Tuohey is currently the investment director on the global investment staff at the Massachusetts Institute of Technology’s Investment Management Co. and a decorated former captain in the U.S. Army, according to the Princeton announcement.

At MITIMCo, Tuohey is responsible for managing 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.

Tuohey earned an MBA. from Harvard Business School, a master’s degree in European studies from the University of Cambridge and a bachelor’s degree in economics from Harvard University, which he attended on an Army Reserve Officers’ Training Corps scholarship. He served in the U.S. Army from 2002 to 2006, earning the Bronze Star while deployed to Iraq, among other military awards for his leadership and achievement.

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“Vince Tuohey combines outstanding investment acumen and experience with proven leadership ability,” Princeton University President Christopher L. Eisgruber said in a statement. “He also has a deep appreciation for Princeton’s mission and the special achievements of Andy Golden and the superb team at PRINCO.”

Princeton’s endowment returned negative 1.7% in fiscal 2023, the university announced last month, continuing a trend of weaker performance by university endowments. Princeton’s endowment, as of June 30, was the fourth largest in the U.S. Fiscal 2023 marked the endowment’s second consecutive year posting a negative return on the heels of 2021’s record 46.9% return.

The Princeton endowment provides roughly two-thirds of the university’s operating revenues, and 70% of the undergraduate financial aid budget is covered by the endowment, according to the university.

For the last 10 years, the Princeton endowment reported an average annual return of 10.8%, and it was 10.5% for the last 20 years.

“Both MIT and Princeton use their endowments to support the universities’ immediate operational needs as well as long-term projects with the potential to change the world. I’m incredibly proud of the role MITIMCo plays at MIT, and I’m looking forward to serving those same ends at Princeton,” said Tuohey in a statement provided by Princeton.