Cambridge Associates LLC is a privately held investment firm based in the United States. It provides
investment portfolio management and advisory services to institutional investors, including foundations and endowments, pensions, private clients, and corporate and government entities.
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History
Cambridge Associates was founded by Harvard College roommates
Hunter Lewis and James Bailey in 1973.
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. 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.
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.
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
The American National Red Cross is a Nonprofit organization, nonprofit Humanitarianism, humanitarian organization that provides emergency assistance, disaster relief, and disaster preparedness education in the United States. Clara Barton founded ...
, for its pension and endowment; the
University of Louisiana at Lafayette
The University of Louisiana at Lafayette (UL Lafayette, University of Louisiana, ULL, or UL) is a Public university, public research university in Lafayette, Louisiana, United States. It has the largest enrollment within the nine-campus Universi ...
Foundation, and the endowment of Lewis & Clark College.
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''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...
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Bloomberg
Bloomberg may refer to:
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* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician a ...
and
Reuters
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The agency ...
utilize Cambridge Associates research.
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.
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.
References
External links
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Financial services companies established in 1973
Companies based in Massachusetts
American companies established in 1973
Privately held companies of the United States
Investment management companies of the United States
Asset management companies