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November 13, 2008

Harvard, Yale and Princeton’s Downbound Race

Good reminder stats from EMII on how the alt assets game has helped and then hamstrung the endowments at major schools. Could the David Swensen days be over?

Yale and Princeton universities have 70% of assets in alternatives, while Harvard University's allocation is 57%. These holdings have helped them generate strong returns over the past decade, but have been unable to offer diversification and liquidity.

Harvard, Yale and Princeton have declined to disclose their recent returns, but it is estimated that that each may be down 25% or more since June 30.

More here.

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