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News from PRINCETON UNIVERSITY For immediate release: May 4, 2001 Contact: Marilyn Marks (609) 258-5748, mmarks@princeton.edu New chair in finance endowed by Randall A. Hack of the class of 1969Princeton, N. J. -- Princeton University today announced the establishment of an endowed chair in finance by Randall A. Hack of the class of 1969, whose investment strategies have helped guide the growth of Princeton's endowment over the past decade. The chair, a gift from Hack and his wife, Mary, will be named in honor of Hack's grandfather, Otto A. Hack of the class of 1903. Hack has served as president of Princeton University Investment Company (PRINCO), which manages the University's endowment, and he is a co-founder of Nassau Capital, which invests endowment funds in alternative assets. "Randy Hack's leadership at PRINCO and at Nassau Capital has helped to secure the University's smooth financial passage into a new century," said President Harold T. Shapiro. "We are grateful for his service, and now, for the gift of this important new professorship, which honors such strong and longstanding family ties to Princeton." In 1899 Otto A. Hack came east from Vincennes, Ind. to join the class of 1903 on a campus he had never seen before. Since that time, some two dozen members of the extended Hack family have attended Princeton, including nephew Samuel W. Hall '03, who will graduate exactly a century after his great-grandfather Otto. The Hacks' daughter Tobin will enter the University this coming fall as a member of the class of 2005. "Our family has benefited so greatly from 100 years of the Princeton educational experience," said Hack. "Mary and I think of this chair, endowed in my grandfather's name, as our heartfelt expression of thanks to the University." Since 1995, Hack has served as a senior managing director of Nassau Capital L.L.C., the investment firm he co-founded to manage the University's investments in venture capital and private equity. For five years prior to the founding of Nassau Capital, Hack served as president of the Princeton University Investment Company. Before joining PRINCO, he was for many years president and CEO of Matrix Development Group, a commercial and industrial real estate development firm he founded. Hack graduated summa cum laude from Princeton and received his M.B.A. from Harvard University. In addition to serving on the boards of directors of several corporations, he has been a trustee of the Princeton Medical Center and Princeton Day School, and currently serves as a trustee of The Quebec-Labrador Foundation. The Hacks live in Princeton. The Otto A. Hack '03 Professorship in Finance will support the work of a distinguished scholar in Princeton's Bendheim Center for Finance. Established in 1997 as an international resource for teaching, scholarship and innovation, the Bendheim Center brings together outstanding scholars in the field of finance and creates a venue where financial experts from academia, government and the private sector can meet regularly to exchange views and information. The center is among the major new academic initiatives of the Anniversary Campaign for Princeton, which ended in June 2000.
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