Princeton University Investment Company

Overview

Princeton University Investment Company (PRINCO) is responsible for managing Princeton University's endowment, which stood at $36.4 billion as of June 30, 2025. The endowment ranks among the five largest university and college endowments in the United States, and per-student, it is the largest. PRINCO's mission is to provide steady support for the University's current and future operating needs while preserving real value for future generations. To achieve this, PRINCO partners with skilled investment management firms across the globe and in diverse asset categories, including public equities, private equity, venture capital, hedge funds, and real estate. PRINCO's investment approach capitalizes on several advantages, such as the endowment's large asset size, which allows for cost-effective support in finding highly attractive opportunities, and the collective skill and experience of PRINCO's directors and staff, which create analytic and judgmental edges. Additionally, PRINCO's vast network of dedicated alumni and University friends results in an informational advantage, and the reputations of the University and PRINCO are additional sources of strength. Princeton is considered a highly desirable client and is given access to the very best independent managers, often even when they are turning away other clients. Over the long term, PRINCO's returns rank in the top 1% of all institutional investors. The endowment provides critical support to Princeton University's mission to be a world-class research and higher education institution. The returns on the endowment generate about two-thirds of the University's net annual operating revenues and help fund the University's highest priority strategic initiatives, such as major investments in bioengineering, quantum science, and artificial intelligence. Notably, the investment program's strength has allowed the University to initiate and expand its pioneering financial aid program. The University is able to admit students without regard to their financial circumstances, and its financial aid program makes it possible for students to graduate with no debt.

Investment Focus

• Long-term investment horizon
• Diversified portfolio across multiple asset classes
• Focus on top-tier independent managers
• Access to unique and attractive investment opportunities
• Alignment with Princeton University's mission and values

Portfolio Companies