The Juilliard School, an elite performing arts conservatory established in 1905, has hired David Marcus to oversee investment of its $760 million (€484 million) endowment. Juilliard, located in Manhattan, allocates roughly 7 percent of its portfolio to private equity.
Marcus has spent the last decade as a managing director at the $3.7 billion endowment of Dartmouth College, a liberal arts university in New Hampshire which has a 15 percent allocation to private equity. In 2006, Dartmouth’s endowment earned an annual composite return of 19.6 percent.
Marcus begins his new duties as Juilliard’s chief investment director on 1 May. He is the performing arts school’s second-ever chief investment officer.
Its first CIO, Colin Ambrose, was hired in 2005. Ambrose, the former head of alternatives at Wesleyan University, left Julliard last year for a position at New Providence Asset Management, a New York-based advisory firm.