Yale University Investments office: June 2003In recent years Yale has been among the more aggressive investors in hedge funds and private equity.One of Yale’s strengths has been in its releationships with top managers in both the hedge fund and private equity world. However, a decision to reduce investments in these areas could damage those relationships. A decision to increase those investments would move Yale further away from its peers in terms of asset allocation, and may pose a risk to Yale in the future.
Another complication is that low interest rates and low projected equity returns has placed Yale in a difficult positions: Increase risk (including liquidity risk associated with alternative investments) or reduce return (and the payout that the school has come to rely on).
What would you recommend to Yale?Evaluate the relative risks of each decision.Develop a strategy for educating the university about your decision and what they can expect from the endowment in coming years.What will your decision communicate to future donors about the ability of Yale to manage their gifts in a prudent way?In recent years Yale has been among the more aggressive investors in hedge funds and private equity.One of Yale’s strengths has been in its releationships with top managers in both the hedge fund and private equity world. However, a decision to reduce investments in these areas could damage those relationships. A decision to increase those investments would move Yale further away from its peers in terms of asset allocation, and may pose a risk to Yale in the future.
- What are the best ways to build out a successful business?
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you are also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
- graduate program. It is a feeling of belonging and a sense of purpose to be able to do everything well, as your interests become more connected and your responsibilities become more open to you.
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you are also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
- graduate program.It is a feeling of belonging and a sense of purpose to be able to do everything well, as your interests become more connected and your responsibilities become more open to you.
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you’re also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
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What do you hope to accomplish in a career in investment?
How do you make a commitment to a graduate degree with a family member in the financial world?
- Who do you believe the most
- What are the best ways to build out a successful business?
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you are also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
- graduate program. It is a feeling of belonging and a sense of purpose to be able to do everything well, as your interests become more connected and your responsibilities become more open to you.
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you are also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
- graduate program.It is a feeling of belonging and a sense of purpose to be able to do everything well, as your interests become more connected and your responsibilities become more open to you.
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you’re also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
<
What do you hope to accomplish in a career in investment?
How do you make a commitment to a graduate degree with a family member in the financial world?
- What are some areas of your family with a financial background that are worth attending a graduate degree with?
- Who do you believe the most
- What are the best ways to build out a successful business?
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you are also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
- graduate program. It is a feeling of belonging and a sense of purpose to be able to do everything well, as your interests become more connected and your responsibilities become more open to you.
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you are also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
- graduate program.It is a feeling of belonging and a sense of purpose to be able to do everything well, as your interests become more connected and your responsibilities become more open to you.
- college. In college there is a sense of belonging and a sense of responsibility. It is that same feeling you get, that even though you might be doing a lot of things at once, you’re also doing certain things to make life a little bit different for you. It is a feeling of belonging and purpose, and you may, if you like, see students go on to accomplish very important things.
<
What do you hope to accomplish in a career in investment?
How do you make a commitment to a graduate degree with a family member in the financial world?
- What are some areas of your family with a financial background that are worth attending a graduate degree with?
- Who do you believe the most
Another complication is that low interest rates and low projected equity returns has placed Yale in a difficult positions: Increase risk