Bob Peck

Bob Peck was born in Fort Worth, Texas, in 1966. The son of parents who worked in a grocery store's meat department, he was the first in his family to attend college and the first from his high school to attend an Ivy League school. He graduated summa cum laude from Princeton University in 1988 (Class of '88) with an A.B. in History, where he was also pre-med and served as a resident adviser. He went on to Magdalen College, Oxford, as a Rhodes Scholar, earning an M.A. in Philosophy, Politics, and Economics (PPE) — an experience he has described as "like an intellectual candy land."

Returning to the U.S., Peck began his career in investment management in Dallas, Texas, managing capital for the Perot and Murchison families. In 2003 he co-founded FPR Partners with Andrew (Andy) Raab, building a private investment partnership focused on public equities. He frames his craft in the language of his Oxford training, saying "investing is a lot like applied PPE." FPR is a concentrated, value-oriented manager whose strategy centers on identifying undervalued public companies believed to be priced below intrinsic value; as of its March 2024 Form ADV, the firm managed roughly $2.03 billion in discretionary assets across a small number of clients.

Peck is deeply engaged in institutional and educational stewardship. He serves on Princeton University's Board of Trustees and chairs the board of the Princeton University Investment Company (PRINCO), which oversees the university's endowment. He also sits on the board of the Fremont Group (the Bechtel family's private investment firm) and has previously been associated with The David and Lucile Packard Foundation and the Petrus Trust Company (the Perot family office).

He is an active educational philanthropist, focused especially on expanding access and diversity. At Princeton he funded the Bob Peck '88 Family Fund supporting the Freshman Scholars Institute (FSI), established an endowed undergraduate scholarship, funded freshman seminars, and supported the Princeton University Preparatory Program (PUPP). He traces this commitment to a single afternoon meeting with an alumni volunteer who introduced him to Princeton: "One hour of his time that afternoon set my life on a whole different trajectory. I want to relay that opportunity to others."

• Public-market value investing, not venture/angel: FPR invests in publicly traded companies it believes trade below intrinsic value — this is a hedge-fund/public-equity mandate, not seed-stage startup investing.
• Deep concentration: The portfolio is highly concentrated, with the top 10 positions representing roughly 86% of reported 13F securities — a conviction-driven approach.
• Intrinsic-value discipline: Guided by the belief that mispriced public companies are "priced below their intrinsic value," reflecting a fundamental, research-intensive style.
• In his own words: "Investing is a lot like applied PPE" — a philosophy, politics, and economics lens applied to markets.