In Memoriam: David F. Swensen

David Swensen served as the Chief Investment Officer of Yale University from 1985 to 2021, when he passed away after a courageous, nine-year battle with cancer. David led a life of purpose; his impact was profound, far reaching, and enduring.

David pioneered a portfolio management strategy that became known as the “Yale Model.” Under his leadership, the Endowment grew from approximately $1.3 billion to $42.3 billion, while providing billions of dollars of spending distributions to support Yale’s operations. Moreover, David’s approach to portfolio management and manager selection came to shape the investment strategies of endowments and foundations around the world. More directly, he trained and mentored an entire generation of institutional investors, as his protégés have gone on to lead the endowments of fifteen other institutions, including Princeton University, Massachusetts Institute of Technology, University of Pennsylvania, and Stanford University.