Yale University, the second-largest endowment in higher education, posted a 12.3 percent investment gain, beating Harvard University and many of its elite peers.
The value of Yale’s endowment rose to a record $29.4 billion for the year ended June 30, the New Haven, Connecticut-based school said Monday in a statement.
Some of the best-performing endowments have reported gains driven by private equity and venture capital. Yale’s return compares with a median 8.3 percent gain for endowments of all sizes, according to preliminary data compiled by consultant Cambridge Associates. Harvard, the richest school in U.S. higher education, posted a 10 percent return, boosting its total value to $39.2 billion.
Almost 60 percent of Yale’s assets in fiscal 2019 were targeted for alternative investments including venture capital, hedge funds and leveraged buyouts, according to the school. Domestic equities had a target allocation of 3 percent.
This article was provided by Bloomberg News.