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The new endowment will help ensure the center’s long-term sustainability and expand its capacity to produce high-quality research that addresses relevant investing questions and ultimately helps build more resilient retirement systems.
“UC San Diego has established itself as a leader in innovative financial and economic research with real-world impact,” said Chancellor Pradeep K. Khosla. “We are grateful to Robert and Dilek Koenigsberger for their visionary support which will strengthen our ability to advance research to improve financial systems and safeguard the long-term security of retirees around the globe.”
The Kroner and Koenigsberger Center for Financial Research is the only research center of its kind, linking major asset owners around the world – including large pension funds such as the California State Teachers’ Retirement System (CalSTRS) and their beneficiaries – with the academic economics and finance community. The center is housed at the Rady School of Management in collaboration with the School of Social Sciences, and is co-directed by Michael Melvin, executive director of the Master of Quantitative Finance program at the Rady School, and Graham Elliott, professor of economics in the School of Social Sciences.
The donation to the Kroner and Koenigsberger Center for Financial Research establishes an endowment that will remain in perpetuity, ensuring the center’s continued success and long-term impact. The center was established in 2019 as the Pacific Center for Asset Management (PCAM), and in 2022 was renamed the Kroner Center for Financial Research in recognition of a $5 million gift from Ken and Jennifer Kroner.
Koenigsberger has chaired the center’s Industry Advisory Council since its inception. He was impressed with the growth and impact of the unique center over the last six years.
“Our goal with this gift is to create an enduring ecosystem that brings together asset owners, academics and industry practitioners to explore challenges, share insights and drive solutions and better outcomes for pensioners and asset owners,” said Koenigsberger. “As a proud and grateful UC San Diego alumnus, I wanted to partner with the university and this offered an ideal opportunity where time, treasure and talent could come together to make a positive impact for others.”
Koenigsberger emphasized his admiration for the center’s focus and leadership. “What has impressed me most is the center’s ability to bridge research and real-world impact. It creates a platform where industry and academia learn from each other — where CIOs, academics and fund managers can engage deeply on the issues that matter most.”
With the input of members of a Chief Investment Officer (CIO) Advisory Council, an Academic Advisory Council and an Industry Advisory Council, the center seeks to identify topics that are under-researched, but of high importance to asset owners, and conduct independent academic research on them.
“Our mission is to help produce rigorous, evidence-based research that responds to the real challenges asset owners face,” said Elliott. “This gift strengthens our ability to focus on the questions that matter most for improving the systems that support retirement security worldwide.”
Researchers supported by the center examined a question posed by CIOs involved in the center: whether engagement by investors has an influence on companies to adopt more sustainable environmental practices. As a result, a study undertaken by scholars at the London Business School and Rice University found that when large investors actively engage with company management, it can lead to measurable improvements in environmental performance. One of the center’s member pension funds used these findings to guide its investment strategy, working directly with energy companies to promote stronger sustainability efforts.