Michelle Knudsen: How She Rebuilt NYU's $8B Endowment in Two Years
The episode features an in-depth conversation with Michelle Knudsen, who discusses her career journey, including formative experiences at Goldman Sachs and Partners Capital. She details her recent work in rebuilding NYU's $8 billion endowment over two years, outlining the new governance structure, growth-oriented asset allocation, and innovative manager selection process. Knudsen also shares insights on building a high-performance investment team, adapting to market risks, and integrating AI into the endowment's operations.
- Michelle Knudsen's start at Goldman Sachs in the 2008 financial crisis ingrained a non-negotiable approach to portfolio management, prioritizing worst-case scenario planning and clear stakeholder communication. Read →
- NYU's $8 billion endowment underwent a complete "blank sheet of paper" rebuild under Michelle Knudsen, shifting from a conservative, bottom-up portfolio to a growth-oriented strategy. Read →
- Michelle Knudsen, leading NYU's $8 billion endowment, explicitly warns against the "aggressive fundraising cycle in private markets" and the risk of FOMO propelling over-investment, necessitating disciplined commitment pacing. Read →
- NYU Endowment, under Michelle Knudsen, fosters a “partner of choice” dynamic, prioritizing deep availability and providing thought partnership to its managers. Read →