RyeGPT People of Note is a series highlighting individuals who have a connection to the City of Rye. In the series we use artificial intelligence to prepare a biography and explain the individual’s connection to Rye.
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Edgar “Ed” Wachenheim III has spent decades building a reputation as a leading value investor. As the founder, CEO, and chairman of Purchase-based Greenhaven Associates, he has navigated global financial markets while maintaining deep ties to Rye, where he and his wife, Sue, have raised their family and supported local institutions.
A longtime Rye resident, corporate executive, author, and civic leader, Wachenheim’s career spans Wall Street, higher education, cultural institutions, and philanthropy, with particularly deep connections to Rye Country Day School and other organizations in the community.
Early Life & Financial Foundations
Born in New York City in 1937, Wachenheim grew up in nearby New Rochelle. He attended the Massachusetts Institute of Technology for two years before transferring to Williams College, where he graduated with a Bachelor of Arts in 1959.
After an initial position at IBM, Wachenheim earned an MBA from Harvard Business School in 1966, where he was named a Baker Scholar after his first year. He began his career on Wall Street as a securities analyst at Goldman Sachs before joining the investment division of Central National-Gottesman (CNG) in 1969.
Building Greenhaven Associates
Wachenheim became head of CNG’s investment division in 1979. In 1987, he spun the investment business off into Greenhaven Associates, establishing the firm in nearby Purchase, New York.
Under Wachenheim’s leadership, Greenhaven grew from managing family wealth to overseeing billions of dollars for university endowments, nonprofit institutions, and high-net-worth families. The firm became known for its disciplined, long-term approach to value investing. From 1988 through 2017, Greenhaven achieved an average annual return of approximately 19 percent before fees.
Wachenheim later detailed his investment philosophy in Common Stocks and Common Sense: The Strategies, Analyses, Decisions, and Emotions of a Particularly Successful Value Investor, published by Wiley in 2016. A second edition was released in 2022.
Deep Connection to Rye & Local Leadership
While his investment firm is based just minutes from Rye in Purchase, Wachenheim and his wife, Sue, made Rye their longtime home, where they raised their four children.
Wachenheim has maintained a longstanding connection to Rye Country Day School, serving as a member of its Board of Trustees and as Board President from 1983 to 1993. He is now a Trustee Emeritus.
His philanthropic involvement also extends to local preservation and cultural organizations. In 2022, the Sue and Edgar Wachenheim Foundation provided $1.5 million to the Jay Heritage Center to support the creation of the Sue and Edgar Wachenheim III Exhibit and Performance Center. The foundation also pledged $200,000 in 2025 toward the restoration of the historic tower at Rye Town Park.
Beyond Rye, Wachenheim has held leadership positions at several major educational and cultural institutions. He is a trustee and Treasurer of the Museum of Modern Art, a Life Trustee and former chair of the Executive and Investment Committees of the New York Public Library, and Trustee Emeritus and former Vice Chair of Skidmore College. He also served as Chairman of WNET’s Board of Trustees from 2017 to 2022.
A Life Beyond Wall Street
Outside of investing and philanthropy, Wachenheim’s interests include modern art, tennis, photography, and hiking. He and Sue continue to maintain their home in Rye, where their family has longstanding ties to the community.
