Keep pulling the thread on Michelle Knudsen.
During Michelle Knudsen's tenure of nearly a decade, Partners Capital grew from approximately $6 billion to $30 billion in assets under management.
Within three months of Michelle Knudsen's arrival, the New York University investment office implemented a new governance structure and a new asset allocation framework.
Under its new governance structure, the New York University investment team has the authority to make manager selection decisions, but requires investment committee buy-in for any single manager allocation that exceeds 3% of the endowment.
New York University's endowment targets an asset allocation of approximately 65% to public and private equity, and 25% to an absolute return and opportunistic bucket.
The New York University endowment portfolio is currently valued at approximately $8 billion.
In the last two years, the New York University investment office has turned over more than a third of its portfolio and re-underwritten another third.
During Michelle Knudsen's tenure, Partners Capital grew from approximately $6 billion in assets under management and 60 employees to $30 billion in AUM and nearly 300 employees.
During Michelle Knudsen's tenure, Partners Capital's global headcount increased from about 60 to nearly 300 people.
As Partners Capital's capital base grew, it shifted its strategy to include underwriting emerging managers and funds due to capacity constraints among its existing managers.
Partners Capital opened a New York office to be physically closer to the heavy concentration of emerging managers located in New York City.
For years prior to its portfolio transformation, the Mellon Foundation's returns were primarily driven by its private equity investments.
The New York University endowment grew from under $2 billion in 2010 to $6.5 billion by the time Michelle Knudsen joined as CIO.