Wednesday, 30 July 2014
Last updated 8 hours 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…