Cambridge Associates LLC is a privately held investment firm based in the United States.[1] It provides investment portfolio management and advisory services to institutional investors, including foundations and endowments, pensions, private clients, and corporate and government entities.[2]
History
Cambridge Associates was founded by Harvard College roommates Hunter Lewis and James Bailey in 1973.[3]
The firm initially provided investment research to endowments and foundations, and over time, it expanded its services to investment consulting and portfolio management for many institutional investors, such as endowments, foundations and pensions.[4] Cambridge Associates’ CEO, David Druley, was appointed in 2016 after serving as head of global investments. He succeeded Sandra A. Urie, who served as chairman and CEO for 16 years.[5]
On February 3, 2022, it was announced that Cambridge Associates will be taking 115,000 square feet in the Winthrop Center tower for its new headquarters later in the year.[6]
Business
Cambridge Associates has, as of mid-2018, $389 billion in assets under advisement, of which roughly $30 billion is managed for client on a discretionary basis—a 50% increase from 2017. The firm has moved further into the business of investing on behalf of clients in addition to its traditional business of largely recommending investment managers to institutions and wealthy individuals and families.
The institutions that outsource the management of their investment portfolio to Cambridge Associates include the American Red Cross, for its pension and endowment;[7] the University of Louisiana at Lafayette Foundation,[8] and the endowment of Lewis & Clark College.[9]
The Wall Street Journal, Bloomberg and Reuters utilize Cambridge Associates research.[10][11]
In 2017, the firm laid off 3% of its workforce in the investment staff, performance reporting and data collection areas in order to more closely focus on its portfolio management operations.[12]
Investment services
It offers investment consulting, outsourced portfolio solutions, research services and tools, and performance monitoring across various asset classes. The company also provides services in areas, such as investment objectives, asset allocation, investment management structures and guidelines, investment manager selection and evaluation, and performance monitoring.[13]
External links
References
- Leanna Orr. Cambridge Associates Sells 20% of Firm to Client Institutional Investor, May 16, 2018^
- Dawn Lim. Cambridge Associates Adds to Its Family of Backers The Wall Street Journal, May 17, 2018^
- Juliet Chung. Cambridge, a $142 Billion Wall Street Gatekeeper, Cuts Staff The Wall Street Journal, March 14, 2017^
- Alyson Velati. Cambridge Grows OCIO Assets 50% in Year Since Pivot from Consulting FundFire, May 17, 2018^
- Cambridge Associates Names Druley Chairman and CEO FINalternatives, May 17, 2018^
- Boston Business Journal:February 3rd 2022:Cambridge Associates chooses Winthrop Center Tower for its new headquarters^
- Amy Whyte. American Red Cross Outsources Investments to Cambridge Associates Institutional Investor, June 7, 2018^
- Preeti Singh. UL Lafayette Foundation outsources investments to Cambridge Buyouts, May 23, 2018^
- Katrina Lewis. Cambridge Associates Adds Oregon Endowment in Asset Manager Push Bloomberg, July 25, 2018^
- Hilary Canada. Energy Losses Cut Into Private Equity Returns in 2014 The Wall Street Journal, 4 August 2015, retrieved 24 November 2015^
- David Benoit. Activist Investors Display a Lighter Touch The Wall Street Journal, 24 November 2015, retrieved 26 November 2015^
- James Comtois. Mercer not only consultant changing with the times Pensions & Investments, Crain Communications Inc., 20 March 2017, retrieved 19 December 2017^
- Cambridge Associates LLC: Private Company Information - Businessweek www.bloomberg.com, retrieved 2016-04-04^