Featured Allocator | Christopher Goranov of the Cornell University Investment Office
EAA: What drew you to the LP space and how did your background shape your path here?
Christopher: As someone with an entrepreneurial mindset and analytical focus, I was drawn to the LP space, where I could identify the trends shaping tomorrow’s world, evaluate a wide range of interesting investment strategies, and generate positive impact through investments. I graduated from Cornell with degrees in economics and statistics and was fortunate to have experience in research, sales and trading, and investment banking roles before joining the investment analyst program at Cornell’s endowment.
EAA: Tell us more about your organization. What’s its origin story and core mission?
Christopher: In 1865, Ezra Cornell established Cornell University’s endowment with an initial gift of $500,000. Today, the endowment manages over $11 billion. As the endowment has grown, we’ve strengthened our portfolio’s positioning, modernized internal systems, and adapted the investment strategy along the way. Despite the notable evolution, our core mission remains the same: provide support for the endeavors of the University while ensuring future generations can also benefit from these resources.
EAA: How should GPs and fellow LPs understand your firm's investment philosophy?
Christopher: We invest with a disciplined, long-term perspective, leveraging quantitative and qualitative insights to build conviction in the opportunity set and manager. Guided by our asset allocation framework, we strive to build a diversified portfolio across asset classes while maintaining sufficient liquidity.
EAA: What’s been a defining moment in your allocator journey so far?
Christopher: Defining moments happen regularly. Whether it’s having a conversation with a prospective or existing manager or connecting with other LPs at events or traveling with our team, I constantly find myself surrounded by and learning from brilliant people, which has kept the journey exciting!
EAA: What’s a current idea, market shift, or emerging thesis that’s on your radar?
Christopher: It’s been interesting to see how the advancement of AI has impacted tangential markets. For example, the buildout of digital infrastructure assets and onshoring of energy-intensive manufacturing may continue driving energy demand (though energy efficiency may improve). This may create opportunities in the power generation space as long grid connectivity queues, construction delays, and rising material costs pose challenges to adding new capacity.
EAA: What podcasts do you listen to? What books do you recommend?
Christopher: Vaclav Smil’s How the World Really Works is a thought-provoking read. It covers relevant topics such as energy, globalization, and economic development and provides context through a quantitative lens, which was eye-opening. Biographies such as Shoe Dog by Phil Knight, Jobs by Walter Isaacson, and A Promised Land by Barack Obama are inspirational reads as well!
EAA: If you weren’t in investing, what would you be doing?
Christopher: Although the most direct experience I have in flying a plane is driving in NYC, I would be a pilot. My family is from Bulgaria and my relatives still live in Europe, so traveling and learning about different cultures is something that I value.
EAA: How is your institution thinking about the economy today and how are you positioning yourself?
Christopher: In a time characterized by “uncertainty,” we focus on maintaining a diversified portfolio that can generate strong real returns across various economic scenarios. Although we stick to a disciplined investment framework, we keep a close eye on policy updates and liquidity in order to be able to act quickly if needed.
EAA: What do you like to do outside of work?
Christopher: I’ve been trying to experience all NYC has to offer – whether it’s a restaurant, activity, or venue, I hope to try something new every week. I also enjoy staying active through soccer, running, tennis, lacrosse, and skiing.
EAA: What’s the best way to get in touch with you?
Christopher: Feel free to reach out at Christopher.Goranov@investment.cornell.edu