Former star manager at T. Rowe Price who founded Durable Capital Partners in 2019 to invest in long-term growth companies.
Life story
Public sources say little about Henry Ellenbogen's birth year, family or childhood. He graduated magna cum laude from Harvard College in History and Science, then earned a JD from Harvard Law School and an MBA from Harvard Business School, where he was a Baker Scholar.
How they got started
Before finance he served as chief of staff to U.S. Representative Peter Deutsch and was a summer associate at Goldman Sachs. From 2001 to 2019 he worked at T. Rowe Price, running the U.S. Small-Cap Growth strategy and the well-known New Horizons Fund, and later serving as the firm's CIO for U.S. equity growth. According to Bloomberg, he produced an annualized return of about 19.2% there.
At T. Rowe he led private rounds in companies such as Workday, Twitter, Coupa, Atlassian, Twilio, Warby Parker and Sweetgreen. In 2019 he launched Durable Capital Partners; by November 2020 it managed more than $10B and was up over 24% for 2020 through October.
Investment style
Ellenbogen looks for mission-driven companies with strong cultures and management teams that can compound for many years. Durable invests in both public stocks and pre-IPO companies, sometimes buying stakes directly from companies rather than in the market.
Best decisions
Duolingo (2020)
In November 2020 Durable co-invested with General Atlantic in a $35M round in Duolingo at a $2.4B valuation; Ellenbogen called it exactly the kind of mission-driven business with great people he seeks. The company went public in 2021.
Private rounds at T. Rowe
Backing companies like Workday, Atlassian and Twilio before their IPOs made his reputation.
Biggest mistakes
Limited information
We found no reliable public account of a specific major mistake acknowledged by Ellenbogen. Note that growth-focused portfolios can swing sharply when interest rates rise.
Today
Ellenbogen continues to run Durable as managing partner and CIO. He is a member of the Barron's Roundtable, sits on the Smithsonian Institution's investment committee and chairs the board of The Posse Foundation.
What to learn from following the portfolio
- Durable's portfolio leans toward growth companies in technology, education and consumer services; some may pass halal screening, but each must be checked individually. See each position's halal status on the Portfolio tab.
- The 13F shows only public stocks — Durable's private investments are not visible.
- A new position, especially in a recent IPO, can be a useful signal: it often means Ellenbogen knew the company before it went public.
- Filings lag by 45 days — treat them as an idea source, not something to copy.
An introduction based on public sources — not investment advice. Spotted an error? Let us know.