New York University’s $3.5 billion endowment has hired Kathleen Jacobs as its new CIO, succeeding Tina Surh who left the post at the end of last year.
Jacobs, currently the managing director of New York-Presbyterian Hospital’s office of investment, will join the university in August.
“She impressed us with her good judgment, her equanimity, her record of successes, and her experience with the kind of strategies and assets that are relevant to the management of NYU’s endowment,” said Joel Ehrenkranz, the chair of NYU’s investment committee board.
According to the university, NYU’s endowment has tripled in size since 2002. It was also ranked 27th in size overall among colleges and universities as of June 30, 2014 by a NACUBO survey.
The fund also returned 8.5% annually for the five years ending September 31, 2014, and 13.7% in the fiscal year ending August 31, 2014.
“I look forward to doing my part through the management of the endowment to help NYU sustain its academic momentum and global reputation for excellence,” Jacobs said in a statement.
Jacobs is no stranger to managing university endowments.
Prior to her seven-year tenure at New York-Presbyterian, she served as senior investor at the Juilliard School of Endowment. The investment chief also worked as vice president at Goldman Sachs and JP Morgan.
Jacobs holds a bachelor’s degree from Bucknell University.
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