Mendelsohn will also have to confront rapidly evolving markets, with booms and busts in cryptocurrencies and special purpose acquisition companies, a crackdown in China and other investors flooding hedge funds and private equity firms with cash in an attempt to capture higher returns. Meanwhile, university fund managers face pressure from activists, students and faculty to scrap controversial assets and diversify their ranks.
Yale — and Mendelsohn — will follow the Swensen model to guide the second-largest U.S. private college endowment through whatever happens in markets. Mendelsohn will lead an office of about 30 professionals.
“David made such an incredible impact on Yale and the broader world of institutional investing,” Mendelsohn said in response to emailed questions. “I have a long way to go before I begin to approach the contribution that he made.”