07 Nov 2014
In partnership to support a missionTopics:
Meredith Jenkins (MBA 1999) serves as vice president and cochief investment officer of Carnegie Corporation of New York, the foundation established by Andrew Carnegie in 1911. With business partner Kim Lew (MBA 1992), she manages $3.2 billion in assets, which have surpassed major benchmarks by finishing in the top 10 percent of nonprofits and foundations over the last 10 years, with annualized returns of 10.3 percent rate of return through December 2013.
“We come in every day excited about how we’re investing the endowment for the portfolio that supports the work of experts in education and international peace and security,” says Jenkins. Their focus is to find the best risk-adjusted returns so that the century-old foundation can exist in perpetuity. Originally known for establishing libraries to further knowledge and understanding, Carnegie Corporation now provides funding for education, civic engagement, and international peace and security initiatives.
Jenkins explains that she and Lew divide the portfolio, each serving as the primary manager for one-half of the investments, while acting as devil’s advocate for the other half. They have a long-term goal of producing 5 percent, plus inflation, and look at surmounting a nominal annualized 8 percent hurdle over the course of a decade.
(Published November 2014)
Class of MBA 1999, Section I