Vincent Tuohey, investment director on the Global Investment staff at the Massachusetts Institute of Technology’s Investment Management Company (MITIMCo) and a decorated former captain in the U.S. Army, has been named the next president of the Princeton University Investment Company (PRINCO). Tuohey will succeed longtime PRINCO President Andrew Golden, who plans to retire at the end of this academic year.
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. MITIMCo was “created to manage and oversee the investment of the Institute’s endowment, retirement and operating funds,” according to MIT.
Tuohey earned his M.B.A. 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 ROTC scholarship. He served in the U.S. Army from 2002 to 2006, earning the Bronze Star Medal while deployed to Iraq, among other military awards for his leadership and achievement.
“Vince Tuohey combines outstanding investment acumen and experience with proven leadership ability,” President Christopher L. Eisgruber said. “He also has a deep appreciation for Princeton's mission and the special achievements of Andy Golden and the superb team at PRINCO. I am confident that Vince will be an excellent president for PRINCO as well as a valued colleague for all of us in the University administration.”
PRINCO manages the University’s $34.1 billion endowment through a network of partnerships with more than 70 investment firms worldwide. The endowment is the financial foundation that underpins the University’s teaching and research mission and supports Princeton’s exceptional financial aid program, which makes it possible for students from all backgrounds to live and learn at the University without the need to incur debt.
The president of PRINCO reports both to the University president and to the chair of the 12-member PRINCO board of directors.
PRINCO Board Chair Bob Peck, a former University trustee and Class of 1988 graduate, said he is grateful for the work of the board and the search committee in identifying Tuohey to lead PRINCO. The firm David Barrett Partners supported the University’s search.
“It was an extremely thorough and rigorous process, and we had the pleasure and benefit of interviewing a number of very talented investors,” Peck said. “While we believe all our finalists would do a fine job of leading PRINCO, Vince stood out to us as having a full complement of multiple talents that will allow him to lead PRINCO superbly for years to come.”
Peck added: “Andy Golden is leaving PRINCO with a strong, effective culture and a truly excellent team which has produced astonishingly good results. We are excited to see Vince secure the future of the current strengths of PRINCO while also evolving over time to allow the University to continue to benefit from the always changing environment of opportunities.”
Tuohey said he has long admired what Golden and PRINCO have accomplished.
“The team at PRINCO are thought leaders in endowment management and have set a high bar for excellence in long-term investing,” Tuohey said. “I’m really looking forward to working with the great team at PRINCO, being a part of the vibrant and collegial Princeton community, and collaborating with PRINCO’s enviable roster of investment partners.”
The average annual return on Princeton’s endowment for the past 10 years is 10.8% and is 10.5% for the past 20 years.
The endowment is vital to advancing Princeton’s mission, Tuohey noted, saying he’s inspired by PRINCO’s role in supporting the University’s commitment to affordability, excellence in teaching and cutting-edge research. Earnings from the endowment provide about two-thirds of the University’s net operating revenues, and the endowment currently funds about 70% of the undergraduate financial aid budget.
Tuohey said these commitments to education, research and access have also been central to his work at MITIMCo.
“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,” he said.
Tuohey joined MITIMCo in 2010. He is responsible for idea generation, sourcing, selection and relationship management of investments for MIT’s endowment and pension fund. He has sourced investment opportunities and spearheaded numerous initiatives in the U.S., Asia, Europe and Latin America.
He has led multiple strategic reviews of MITIMCo’s asset allocation, portfolio construction and competitive positioning. He was part of a small team, which included MITIMCo’s president and MIT’s treasurer, that developed policy frameworks for major financial decisions, including debt issuance, endowment payout and pension fund management. He also represents MITIMCo on more than 15 advisory boards.
In addition, Tuohey serves on a number of committees for the Museum of Fine Arts in Boston, including the investment committee, which manages the museum’s endowment, the audit committee and the board of advisors. He is also a member of the investment committee for the Buckingham Browne & Nichols School, a private PreK-12 school in Cambridge, Massachusetts.
From 2016 to 2021, Tuohey was a Stephen M. Kellen Term Member at the Council of Foreign Relations.
Before working for MITIMCo, he was a private equity senior associate at Littlejohn & Co. from 2008 to 2010.
Prior to his investment career, Tuohey served in the U.S. Army’s 1st Cavalry Division. As a captain, he served on the command staff for a cavalry squadron with 650 soldiers. Before that, he served as an armored cavalry troop executive officer and scout platoon leader, leading combat missions in the greater Baghdad area from 2004 to 2005. His first leadership position was as a tank platoon leader.