At Yale, an Investment Guru Grooms a New Generation

At Yale, an Endowment Guru Grooms a New Generation of Investors 1

Peter Foley, Bloomberg via Getty Images

David Swensen, chief investment officer at Yale U. and a developer of the now-famous Yale Model of investing, spoke to colleagues in New York last year.

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close At Yale, an Endowment Guru Grooms a New Generation of Investors 1

Peter Foley, Bloomberg via Getty Images

David Swensen, chief investment officer at Yale U. and a developer of the now-famous Yale Model of investing, spoke to colleagues in New York last year.

Earlier this summer, David F. Swensen, Yale University's investment chief, looked on as Peter H. Ammon left the New Haven campus to head up the $6.8-­billion endowment at the University of Pennsylvania.

For most other institutions, Mr. Ammon, who was a director in the Yale Investments Office, would be difficult to replace. The new chief investment officer at Penn had been heavily involved since 2005 in managing Yale's domestic and foreign equities, absolute return, and timber