Key Takeaways
- • Princeton University's endowment lost 1.7% in the latest fiscal year, its second straight negative return and the weakest annual performance among Ivy League schools reporting so far.
- • The endowment's value declined to $34.1 billion at the end of June, according to the New Jersey school's announcement on Wednesday.
- • Andrew Golden, president of the Princeton University Investment Company, attributed the loss to poor venture capital performance, compounded by an attempt to hedge against that result.
Summary
Princeton University's endowment lost 1.7% on its investments during the latest fiscal year, according to the school, marking its second consecutive negative annual return. The result ranks as the worst annual performance in the Ivy League among schools that have reported so far, per Bloomberg.
Andrew Golden, president of the Princeton University Investment Company, which manages the fund, said the decline was driven by weak performance in venture capital. He noted that an attempt to hedge against that venture capital exposure compounded the losses.
The endowment's value fell to $34.1 billion at the end of June. The university announced the figures on Wednesday.
Andrew Golden, president of the Princeton University Investment Company, which manages the fund, said the decline was driven by weak performance in venture capital. He noted that an attempt to hedge against that venture capital exposure compounded the losses.
The endowment's value fell to $34.1 billion at the end of June. The university announced the figures on Wednesday.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.