Cambridge Associates
| Company type | Private |
|---|---|
| Industry | Investment management, Asset management |
| Founded | 1973 |
| Founder | Hunter Lewis, James Bailey |
| Headquarters | Boston, Massachusetts , United States |
Key people | David Druley (CEO) |
| Products | Investment consulting, outsourced portfolio management, research analysis, performance monitoring |
Number of employees | 1,387 (2024) |
Cambridge Associates LLC is a privately owned investment firm headquartered in the United States, focusing on asset and investment management services. Its clientele primarily includes institutional investors such as foundations, endowments, pension funds, private individuals, as well as corporate and governmental organizations. By September 2024, the firm oversaw roughly US$276 billion in assets under management (AUM) and reported US$86 billion in assets as of December 2023, supported by a team of 1,387 employees.
History
Established in 1973 by Harvard classmates Hunter Lewis and James Bailey, Cambridge Associates initially concentrated on delivering investment research to endowments and foundations. Over time, it broadened its scope to encompass investment consulting and portfolio management services for a diverse institutional client base.
In 2016, David Druley assumed the role of CEO after leading the global investments division, succeeding Sandra A. Urie who had been chairman and CEO for 16 years. The company revealed plans in 2022 to move its headquarters to a 115,000-square-foot space within Boston’s Winthrop Center, signaling its expansion and strategic emphasis within the financial services industry.
Business
By mid-2018, Cambridge Associates was responsible for managing $389 billion in assets under advisement, with around $30 billion managed on a discretionary basis—marking a 50% rise compared to 2017. The firm has evolved from primarily advising on investment manager selection to actively managing investments for clients.
Among its prominent institutional clients outsourcing portfolio management are the American Red Cross (pension and endowment), the University of Louisiana at Lafayette Foundation, and the endowment of Lewis & Clark College.
Leading financial news organizations such as The Wall Street Journal, Bloomberg, and Reuters frequently utilize research provided by Cambridge Associates.
In 2017, the firm implemented a 3% reduction in staff within investment roles, performance reporting, and data collection functions to enhance focus on portfolio management activities.
Investment services
Cambridge Associates delivers a range of services including investment consulting, outsourced portfolio management solutions, research analysis, and performance monitoring across various asset categories. Its service offerings address investment goals, asset allocation strategies, management frameworks and policies, selection and assessment of managers, along with continuous performance evaluation.