Office of Investments

The Office of Investments is responsible for management of the University’s endowment and other long-term investments. The Office is staffed by senior investment professionals with the support of a capable operations and administrative team.

The endowment itself consists of hundreds of individual trusts which are pooled into a single investment vehicle known as the Associated Investments Fund (AIF). Funds designated as endowment are meant to support programs into perpetuity. Spending is determined under a formula established by the Trustees that balances the desire for current income with the need to protect long-term purchasing power.

The AIF is invested in a diverse pool of assets including public equities, fixed income, hedge funds, private equity, real estate and natural resources in accordance with a policy portfolio established in consultation with an Investment Board appointed by the Board of Trustees.

 

Chief Investment Officer

Kristin Gilbertson was appointed Chief Investment Officer in August 2004. Prior to joining Penn, she served as the Managing Director of Public Equities for the Stanford Management Company. Prior to joining Stanford University, she was a Principal Investment Officer and Strategist in the Investment Management Department of the World Bank in Washington, DC. She joined the World Bank in 1992 as a member of the Young Professionals Program. She was previously a management consultant.

Ms. Gilbertson graduated magna cum laude from Harvard University with a BA in Economics and received her MBA from the Stanford Graduate School of Business.

 

Contact Information

Office of Investments
3535 Market Street
Suite 200
Philadelphia, PA 19104
(215) 746-5320