April 6, 2001

Commonfund Releases New Endowment Study

By KIT LIVELY

A surprising 23 percent of the holdings in education endowments are in investments like hedge funds and venture capital, and investment officials expect to keep them there, according to preliminary results of a survey by the asset-management company Commonfund.

Large endowments were most likely to contain those so-called alternative investments: Such holdings accounted for 29 percent of assets at institutions with endowments larger than $1-billion. The share dropped to 18 percent for

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