Month: February 2019

February 28, 2019
Capital Allocators Monthly - February 2019
As always, please feel free to forward this email to friends. You can sign up to receive our new weekly blog in your inbox here. Come join me on the other side of the microphone. Jon Brolin, founder of Edenbrook Capital and an adjunct professor at Gabelli School of Business at Fordham, is going to flip […]
February 28, 2019
Penn President Triples Endowment
"She's overseen record fundraising and a more than tripling of the endowment. [University President Amy] Gutmann has raised more than $7 billion — $4.3 billion in her first major campaign that concluded in 2012 and nearly $3 billion so far in her second campaign, which aims to bring in $4.1 billion by 2021. The endowment […]
February 27, 2019
Ford Foundation on Endowment Management
"Earning high returns isn’t just a matter of bragging rights — endowment income supports the missions of nonprofit institutions, whether education, as with college and universities, or broader social programs, as at many private foundations. By law, tax-exempt foundations must spend at least 5 percent of their endowment every year on charitable purposes. In Ford’s […]
February 26, 2019
Recruiting Endowment Leaders
"Since 2011, Barrett’s boutique has found new leaders for the endowments of Harvard, Stanford, Dartmouth, and Emory, among many other major universities. Mark Zuckerberg and Priscilla Chan picked DBP [David Barrett Partners] to find their first-ever chief investment officer, as did the Catholic Church for its new $3 billion health foundation. Barrett, 60, has worked […]
February 25, 2019
Harvard President on Divestment
"Harvard presidents have long maintained that the University’s endowment is not an appropriate tool for enacting social change despite persistent calls from activists, most recently to withdraw holdings from the fossil fuel and private prison industries. Bacow’s statements on Thursday reflected this precedent: he reiterated the apolitical nature of the endowment and said that this […]
February 24, 2019
Matt Botein - Flexible Investing and Institutional Challenges (EP.88)
Matt Botein is the Co-Founder and Managing Partner of Gallatin Point Capital, a $1.5 billion private investment company he founded after departing from BlackRock, where he had served as the Chief Investment Officer and Co-Head of the firm’s $160 billion Alternatives business.  Before sitting atop that lofty perch, Matt formed a bank after the financial […]
February 21, 2019
Cook Children's New CIO from Columbia Endowment
"The Cook Children’s Health Care System has hired a senior investor from Columbia University’s endowment as its new chief investment officer, a Cook Children’s spokesperson confirmed Tuesday. 'Tony Bagwell of Columbia Investment Management Company in New York City will join our organization in April as senior vice president, CIO at Cook Children’s,' spokesperson Kim Brown […]
February 20, 2019
Endowments Return 8.2% in 2018
"Other than the upturn at the University of Texas system, which saw a jump of 16.4 percent, the list of the wealthiest schools stayed mostly the same. Behind Yale were Stanford and Princeton universities, with more than $25 billion, while the Massachusetts Institute of Technology and the University of Pennsylvania each topped $13 billion. But […]
February 19, 2019
Cambridge Associates on Cryptoassets
"Most large institutions have steered clear of the 10-year-old, $120 billion industry because it’s largely unregulated and cryptocurrencies have been used to finance illicit trade. The collapse in crypto prices hasn’t helped either: Bitcoin, the largest digital currency, lost about 75 percent of its value in 2018. For those prepared to take the plunge, Cambridge […]
February 18, 2019
Klarman Foundation Hires CIO
"Baupost is also well known as a distressed-debt investor, profiting from trades such as Lehman Brothers Holdings Inc.’s bankruptcy. In that investment, the Lehman bankruptcy estate eventually distributed billions to investors, including hedge funds that snapped up claims following the firm’s collapse. Baupost counts major university endowments and foundations among its clients and has averaged […]
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