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Wall Street Playing The Hunger Games: College Endowment Edition

May the odds be ever in your favor (to score those fees).
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Apavlo at the English language Wikipedia [GFDL ( or CC-BY-SA-3.0 (], via Wikimedia Commons

Apavlo at the English language Wikipedia [GFDL ( or CC-BY-SA-3.0 (], via Wikimedia Commons

It turns out that there are more than 4,000 colleges and universities in the U.S., and not all of them are Harvard or Yale or Amherst or even Brown, in that they don’t have enough money or future hedge fund managers on staff to effectively manage their endowments so that they might one day become Harvard or Yale or Amherst or, at worst, Brown. Those benighted campuses without a few tens of billions of dollars in the bank would just buy savings bonds or, if they were lucky, hand it all over to TIAA-CREF. But now, TIAA is engaged in mortal combat for those mandates.

When the University of Connecticut sought help managing a slice of its small endowment, TIAA found it was competing with 26 other money managers. So the financial services giant sent its biggest gun: President Roger Ferguson, a former vice chairman of the Federal Reserve, to pitch in person….

Almost 80 investment firms have sprung up to target foundations, family offices and colleges, up from just a few a decade ago….

About $100 billion has been outsourced in higher education, more than doubling since 2010, according to data compiled by Bloomberg using surveys from the National Association of College and University Business Officers and Commonfund.

Wall Street Redoubles Fight to Manage $100 Billion at Endowments [Bloomberg]


Don't let the gate hit you on the way out. By John Phelan (Own work) [CC BY 3.0], via Wikimedia Commons

Harvard Endowment Still Sucks

But having cut out both the dead and living wood, it hopes to suck less going forward.

See page for author [Public domain], via Wikimedia Commons

The Nerds Have Won: Wall Street Edition

Get ready to report to the kind of people whose heads you used to stick in toilets.


Hedge Fund May Have Cut Itself A Nice Little Deal With Yale’s Money

If you screw with David Swensen, you’d better not get caught.