Adelphi, Goldman Sachs Establish New Relationship

Garden City, NY (07/16/2020) — Adelphi University is pleased to announce that this month the University's board of trustees appointed Goldman Sachs as its Outsourced Chief Investment Officer. In this role, the company will work with Adelphi's Finance and Investment Committee to manage the University's endowment fund, effective July 1, 2020.

"Adelphi's administration and the board recognized that the volatility in today's financial markets required a more sophisticated and active approach to managing our endowment fund," said James Perrino, executive vice president of finance and administration at Adelphi. "We are excited to be working with Goldman Sachs and look forward to benefiting from their expertise and breadth of service offerings."

Perrino added, "We believe that adopting this new investment model will allow the University to react more timely to market conditions and provide us with a greater opportunity to maximize our investment returns given our tolerance for risk."

"We are pleased to be trusted with this crucial mandate and look forward to supporting the University and its endowment in their mission," said John Mallory, global head of Goldman Sachs Institutional Client Solutions. "As with all of our clients, we will seek to ensure that Adelphi and its community benefits from the reach and resources of our global franchise."

About Adelphi: A modern metropolitan university with a personalized approach to higher learning

Adelphi University, New York, is a highly awarded, nationally ranked, powerfully connected doctoral research university dedicated to transforming students' lives through small classes with world-class faculty, hands-on learning and innovative ways to support academic and career success. Adelphi offers exceptional liberal arts and sciences programs and professional training, with particular strength in our Core Four-Arts and Humanities, STEM and Social Sciences, the Business and Education Professions, and Health and Wellness.

Recognized as a Best College by U.S. News & World Report, Adelphi is Long Island's oldest private coeducational university. It serves almost 8,000 students at its beautiful main campus in Garden City, New York-just 23 miles from New York City's cultural and internship opportunities-and at dynamic learning hubs in Manhattan, the Hudson Valley and Suffolk County, as well as online.

More than 116,000 Adelphi graduates have gained the skills to thrive professionally as active, engaged citizens, making their mark on the University, their communities and the world.

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