Sunday, 21 September 2014
Last updated 1 day ago
Oct 21 2013 | 11:12am ET
Yale University's endowment is a pioneer in alternative investing. But its taste for private equity may be waning.
The $20.8 billion endowment—the second-largest in the U.S.—has cut its p.e. target for the first time in eight years. Yale aims to have 31% of its assets invested in such funds for the fiscal year the began on July 1, compared to 35% in the previous fiscal year, The Wall Street Journal reports.
Yale would not comment on the change.
The move does not indicate that Yale has lost faith in the asset class; p.e. remains the largest part of its portfolio. And those investments have been among Yale's best, earning it a 14.4% annualized return over the past 10 years.
Yale also cut its real-estate target, but increased its hedge-fund target, as well as its targets for foreign stocks and natural resources.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.