The University of Cambridge today announced the formation of its first Investment Board. The Board will advise the University on all matters relating to its endowment and other investment assets which currently total more than £1 billion.

The creation of the Board comes three months after the University launched the most ambitious fundraising campaign by any UK University, with a goal of £1 billion.

“This Investment Board is a significant step forward for Cambridge,” said Professor Alison Richard, Vice-Chancellor of the University, who will also serve as a Board member. “Building the University’s endowment and providing more income to support core activities are crucial elements in our overall strategy to strengthen and reconfigure the University’s finances.

“Cambridge’s benefactors must be confident that gifts to the endowment will be managed according to global best practice.”

Michael Dobson, Chief Executive of Schroders plc and a graduate of Trinity College, will chair the new Investment Board.

“The successful investment of Cambridge University's Endowment Fund is important in enabling the University to achieve its goals,” he said. “Building on the performance of recent years, the Investment Board has an interesting challenge ahead and I am delighted that such experienced investors have agreed to participate.”

One of the Board’s first actions will be to help appoint a Chief Investment Officer for the University, making Cambridge the first UK university with a professional in-house investment office. The Chief Investment Officer and staff will work closely with the Board to develop investment objectives, and an appropriate investment strategy.

In addition to Michael Dobson, the University welcomes other leading financial specialists onto its Investment Board:

  • John Armitage, co-founder of Egerton Capital, and a graduate of Pembroke College.
  • Damon Buffini, managing partner of Permira and a graduate of St John’s College.
  • Charles Larkum, Bursar of Sidney Sussex College, member of the University Finance Committee and of the University Investments Sub-committee since 1993.
  • Douglas McDougall, a former senior partner of Baillie Gifford & Co, chairman of The Law Debenture Corporation and of the Independent Investment Trust
  • Stewart Newton, chairman of The Real Return Holdings Company, founder of Newton Investment Management, and a member of the advisory board of Cambridge’s East Asia Institute.
  • David Swensen, Chief Investment Officer at Yale University.

Alison Richard, Vice-Chancellor of the University of Cambridge will attend Investment Board meetings ex officio.

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