Newsmakers
2023 Asset Owner Industry Innovation Award Finalists Announced
On December 5, CIO will recognize the allocators driving change and enhancing performance in institutional investing.
Tag: Endowments
Pensions
University of Virginia Endowment Return Misses Benchmark by 10.3 Percentage Points
According to UVIMCO, its developed market managers ‘were not able to fully capture the strong gains seen in domestic equities.’
Asset Allocation
Idaho Endowment Board Reports 10.9% Return for Fiscal 2023
The state’s Land Board will distribute a record $103.2 million to beneficiaries in fiscal 2025.
Manager Selection
MetLife CIO Steven Goulart to Retire in August
The firm has a mandatory age-65 retirement policy, although it has been waived in the past; several corresponding promotions were also announced.
Pensions
Michigan State University Endowment Buys Majority Stake in Detroit Landmark
The university is paying $21 million for 79% of the 95-year-old Fisher Building.
Asset Allocation
Amnesty International Scolds University Endowments for Human Rights Indifference
The report gives failing grades to several major university investment offices due to a lack of ‘human rights due diligence.’
Newsmakers
Princeton Endowment President, CIO Andrew Golden to Retire in 2024
During his 28-year tenure, the endowment has posted annualized returns of 12.6%.
Newsmakers
Britt Harris To Leave UTIMCO in June
CIO Rich Hall will be promoted to CEO and president.
Asset Allocation
Notre Dame Endowment Loses 6.9% in 2022
While a far cry from 2021’s 53.2% return, the pool outperformed its benchmark by 660 basis points.
Regulation
Connecticut Bill Would Allow Cities to Tax Private College Endowments
Yale’s $41.4 billion endowment could be targeted by the city of New Haven if the proposed legislation passes.
Asset Allocation
Endowments, Foundations Increase OCIO Use, but Underutilize Alts
A CAPTRUST survey also found that the number of nonprofits allocating to ESG investments decreased in 2022.
Research
Private Equity, Venture Capital Outpace Public Equities in 2022 Higher Education Endowments
Despite negative investment performance and a drop in asset values in 2022, endowments provided $25.85 billion in financial support in fiscal 2022, a NACUBO-TIAA study found.
Manager Selection
Heinz Endowments Name New President
The Heinz family announced the appointment of Chris DeCardy after a 10-month search to fill the role.
Asset Allocation
UC Investments Gives $4 Billion Boost to Blackstone Real Estate Fund
Investment from $152 billion manager comes one month after BREIT had a run on withdrawals.
Newsmakers
NBA Approves Institutional Investors’ Passive Ownership Stakes in Teams
Investors including pension funds, sovereign wealth funds and endowments can own passive stakes in NBA franchises, following a 2020 decision to welcome private equity firms.