(Financial Times) The drawn-out downturn in private market returns is hitting one group of investors especially hard: Ivy League university endowments.
Leading US university endowments, many of which allocate outsized portions of their portfolios to private equity and venture capital, have underperformed the university average for the second year in a row, with prominent ones like Yale and Princeton lagging far behind their smaller peers, as the once lucrative asset class suffers from a plunge in dealmaking and stock listings.
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