The proportion of the endowment that was invested in alternative strategies depended on the endowment’s size. Colleges whose endowments had market values exceeding $1 billion devoted more than half of their assets to alternative strategies, like private equity and venture capital. On average, endowments with values under $25 million concentrated the largest share of their assets in domestic equities and put only 11 percent into alternative strategies.
Return to the Almanac home page, or go to the Profession, Students, Finance, or States section. To purchase a copy of the Almanac in print or as a downloadable interactive PDF, visit the Chronicle Store. Help guide us to give you the data you need by taking our 10-minute online Almanac survey.
| Over $1 billion | 13% | 7% | 19% | 57% | 4% |
| $501 million to $1 billion | 20% | 9% | 22% | 42% | 7% |
| $101 million to $500 million | 27% | 13% | 22% | 32% | 6% |
| $51 million to $100 million | 33% | 17% | 22% | 22% | 6% |
| $25 million to $50 million | 37% | 20% | 19% | 17% | 7% |
| Under $25 million | 42% | 24% | 16% | 11% | 7% |
| All public institutions | 19% | 10% | 21% | 46% | 4% |
| All private nonprofit institutions | 15% | 7% | 20% | 54% | 4% |
| All institutions | 16% | 8% | 20% | 52% | 4% |
Note: Data represent asset allocations as of June 30, 2017, the end of the 2017 fiscal year, for 809 colleges and universities and their affiliated foundations in the United States, representing nearly $567 billion in endowment assets. “Alternative strategies” include private equity, like leveraged buyouts; marketable alternatives, like hedge funds and derivatives; venture capital; private-equity real estate; energy and natural resources; commodities and managed futures; and distressed debt. More data can be found here. Questions or comments on the Almanac should be sent to the Almanac editor.
Source: National Association of College and University Business Officers and Commonfund Institute
