Yale's chief investment officer, David Swensen, hailed by the school as revolutionizing "the landscape of institutional investing," died Wednesday at 67, the school's president announced.
Swensen led the university's investment office since 1985, following work at Salomon Brothers and Lehman Brothers, according to a university announcement.
Swensen is credited with developing the "Yale Model" of institutional investing, which became the template for many universities in how they set up endowments.
"David served our university with distinction. He was an exceptional colleague, a dear friend, and a beloved mentor to many in our community. Future generations will benefit from his dedication, brilliance, and generosity," Yale President Peter Salovey said in a statement posted to the school's website.
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Salovey went on to write, "David believed deeply in Yale’s mission of education and research, and he dedicated his professional life to stewarding and growing the university’s endowment so it could support Yale’s vital work in the world."
Salovey said Swensen passed away Wednesday evening "after a long and courageous battle with cancer."
Swensen lectured in Yale College and the School of Management. He had taught as recently as Monday, the school said.