Endowment to be modeled on Yale, Harvard’s investment strategies.
Former US vice president says alma mater’s investments a ‘moral issue.’
Private equity, credit, and hedge fund strategies, recipients of extra investments earlier this year, may be in line for more still.
Penn is accused of breaching its fiduciary duty by accepting high fees, poor investments.
Christina Paxson says endowment is ‘not a political instrument.’
Complaint alleged excessive fees cost 403(b) participants millions.