Yale Investments
Operating under the guidance of the Yale Corporation’s Investment Committee, the Yale Investments office manages the University’s Endowment, which totaled $40.7 billion on June 30, 2023. The Endowment is sustained by generous gifts from donors and earnings generated through Yale’s disciplined, long-term investment approach. Spending from the Endowment supports the University’s aim of improving the world today and for future generations through outstanding research and scholarship, education, preservation, and practice.
Our Mission
We strive to…
…to generate excellent risk-adjusted returns to support Yale.
Our Values
Excellence
Approach every decision, every day with rigor; demand the very best of ourselves; and commit to continuous learning and improvement.
Integrity
Do the right thing; treat everyone with respect; and invest with the highest ethical standards.
Camaraderie
Support each other; work collaboratively; and always have fun!
Curiosity
Ask questions with an open mind; seek to innovate; and don’t take comfort in the conventional.
Passion
Be enthusiastic about our work; energize those we work with; and embrace our role in furthering the University’s mission.
Partnership
Be an excellent teammate; be an engaged citizen of the community; and be a collaborative partner to our investment managers.
Our Impact
The Endowment contributes about one-third of Yale’s annual operating budget and serves as the University’s largest revenue source, supporting all aspects of Yale’s mission.
The University
“Yale is committed to tackling the most significant human problems of the day. The Endowment helps Yale’s people—dynamic teachers, world-class scholars, pioneering researchers, committed staff, and enterprising students and alumni—carry out this mission. The Endowment reflects the generosity and care of those who came before, aids in the urgency of our present work, and assists us in building a better future.”
Scott A. Strobel, Provost
The College
“With essential support from the Endowment, Yale students and scholars are able to learn from each other in classes, residential colleges, study abroad programs, and extracurricular activities, making it possible for Yale College to provide one of the world’s best undergraduate educations. The Endowment also makes this education accessible to all students, regardless of their financial means; over half of them receive financial aid without requiring debt. On behalf of Yale College students, staff, and faculty, I am grateful for the gifts of alumni and friends, and for how the Investments Office has multiplied these resources to benefit Yale sustainably.”
Marvin Chun, Former Dean of Yale College and Richard M. Colgate Professor of Psychology, Neuroscience and Cognitive Science
The Graduate School of Arts and Sciences
“Without a robust endowment, the Graduate School of Arts and Sciences cannot fulfill its mission. Top-tier graduate schools attract the strongest and brightest candidates by offering generous financial support that covers all costs for the duration of study. The Endowment makes it possible to provide support that sustains exciting research across the Graduate School, benefiting the entire University. Every year, we admit just over 500 of the best students from a pool of more than 10,000 applicants, each of whom requires four or more years to complete their research, whether in the lab, in international archives, or in our own libraries and collections. While pursuing their scholarship, they also teach Yale’s excellent undergraduates and undertake other, important professional development activities. Our graduate students go on to become tomorrow’s leaders, whether as scholars, researchers and teachers, or, just as importantly, as contributors to non-academic pursuits.”
Lynn Cooley, Vice Provost for Postdoctoral Affairs, Dean of Yale Graduate School of Arts and Sciences, C. N. H. Long Professor of Genetics, and Professor of Cell Biology and Molecular, Cellular, and Developmental Biology
The Law School
“Our Endowment serves as a bridge across generations, translating past successes into future opportunities. It supports a world-class faculty, a student body that is second to none, and facilities that inspire everyone who walks through our doors. Our Endowment enables us to preserve the school’s best traditions while ensuring we are nimble enough to retain our place at the vanguard of the legal profession. We never take it for granted, and we could not be more grateful to those who created it.”
Heather K. Gerken, Dean of Yale Law School and Sol & Lillian Goldman Professor of Law
The School of Management
“The Yale School of Management has an outsized impact on business and society because it is able to catalyze incredibly diverse endeavors of students, faculty, and alumni. Our Endowment underwrites all of those efforts. Income from the Endowment covers a significant portion of each student’s education, supports faculty research, and enables us to undertake new initiatives aimed at improving business education. The superlative management of the Yale Investments Office both maximizes the resources available to us and gives donors confidence that every dollar they give will have a long-term impact. It’s hard to imagine where the school would be without the leading work of the Yale Investments Office.
Kerwin K. Charles, Indra K. Nooyi Dean of Yale School of Management, and Frederic D. Wolfe Professor of Economics, Policy, and Management
Arts
“The Endowment provides 62% of the Yale University Art Gallery’s annual budget. Endowment funds are critical to the Gallery’s excellence and touch every aspect of our operations and mission—from our always-free admission to new acquisitions of great works of art to hiring outstanding staff, fellows, and interns. Now more than ever, Endowment support is essential for developing the cutting-edge conservation research and the expansion of collections access that the Gallery is working toward in collaboration with the Yale Center for British Art, Yale Peabody Museum, and the Yale libraries. The Endowment provides exceptional experiences to the more than 220,000 people who visit the Gallery each year, and the many thousands of others around the world who engage with our collections online and through our publications and traveling exhibitions.”
Stephanie Wiles, Henry J. Heinz II Director of the Yale University Art Gallery
Athletics
“The Yale Investments Office allows Yale Athletics to actively pursue our mission to be unapologetic in excellence, relentless in pursuit of victory, and resilient in the face of loss. Thanks to the funds managed by the Investments Office, we can plan strategically for the evolution of the department and its bright future in the competitive landscape of college athletics. We dare to be great, because our Endowment provides the foundational resources to support 35 varsity sports, a robust recreation program, and facilities that are home to students, faculty, staff, and community members. Because of the Yale Endowment, our student-athletes leave Yale fit to lead and ready to do incredible things – representing this fine University in all of their endeavors.”
Vicky Chun, Thomas A. Beckett Director of Athletics
The Library
“Historically and long into the future, our endowed funds enable the Library to pursue its mission of fostering research, teaching, and learning. Support from the Endowment enables us to build on our traditional strengths, to preserve extraordinary collections on every conceivable subject and in every conceivable medium, and to innovate in emerging forms of scholarship, from computational methods in humanistic research to bioinformatics, data science, and GIS. It is essential to maintaining and enhancing our iconic library spaces, cultivating curiosity, and promoting openness. Sustained funding from the Endowment fosters our ability to share freely the knowledge we preserve with the Yale community and the broader world.”
Barbara Rockenbach, Stephen F. Gates ’68 University Librarian
