Leadership transitions in investment offices, whether at institutions like Carnegie Corporation of New York or other organizations, are influenced by the flow of funds and office type. Investment office playbook outlines different phases based on fund flow dynamics, affecting the pace and competition for capital deployment. Offices with consistent outflows may face more intense competition. The duration of a CIO's tenure correlates with investment success, with organizations like Yale, MIT, and Princeton showing long-serving leadership delivering the best performance over the long term.