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Yale's David Swensen Threatens to Hit Pockets of Investment Firms For Lack of Diversity

Yale’s David Swensen is not playing any games in terms of holding money managers accountable when it comes to diversity. According to The Wall Street Journal (WSJ) , the endowment chief let investment firms know that they will be measured by their hiring of minorities and women. Swensen has led Yale’s $32 billion endowments since 1985 and he tells WSJ that those who show little improvement can expect to see the prestigious university pull its money. The significance of this move is vital to ensuring that the company’s put their money where their mouths are when it comes to diversifying their respective workforces. At 66, Swensen is considered among the most highly regarded money managers in the world having grown Yale’s endowment from $1 billion after joining as a 31-year-old former grad student of the school. He’s credited for his development of the so-called Yale Model which is committed to private equity funds, international investments, hedge funds, and private equity funds....

Oct 27, 2020