Seth Alexander ’95, a director at Yale’s Investment Office, will leave the University in June to head the Massachusetts Institute of Technology’s Investment Management Company.
Alexander, a 10-year veteran in managing Yale’s endowment, will replace Allan Bufferd as president of the IMC. As Alexander has gained much experience in working on Yale’s successful portfolio, MIT expects him to excel in his new position, IMC Board of Directors Chair Theresa M. Stone said in a press release.
“Seth Alexander brings outstanding strategic, analytical and personal qualities to his new position,” Stone said. “The IMC Board is confident that he will continue the highest standards of investment excellence and commitment to the mission of MIT that Allan Bufferd and his Investment Office colleagues have exemplified.”
Alexander’s fields of expertise are hedge funds, timber, marketable securities, asset allocation and international investments, according to the press release.
Yale’s endowment ballooned to $15.2 billion from $4 billion during Alexander’s tenure. He played an important role in the University’s success, Chief Investment Officer David Swensen said in an e-mail.
“Seth Alexander is a superb investment professional, who has made an enormous contribution to his alma mater, Yale University,” Swensen wrote. “His appointment as President of MIT’s Investment Management Corporation allows him to continue his devotion to the not-for-profit world, benefiting MIT, in particular, and higher education, in general.”
Alexander is only the latest Yale official to be snatched by MIT, Deputy Provost Charles Long said. After former Provost Susan Hockfield left the University in October 2004 to become president of MIT, her administration tapped Pamela Delphenich, Yale’s University Planner last year.