Yale University Investments Office: February 2011

Posted: 2 Feb 2012

See all articles by Josh Lerner

Josh Lerner

Harvard Business School - Finance Unit; Harvard University - Entrepreneurial Management Unit; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI); Harvard University - Private Capital Research Institute

Ann Leamon

Harvard Business School - Finance Unit

Date Written: October 18, 2011

Abstract

David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments-hedge funds, private equity, real estate-given the impact of the recent market turmoil. The case explores the risks and benefits of a different asset allocation strategy and also considers how to classify some of the different assets. It highlights the issues around allocations across different subclasses, e.g., between venture capital, hedge funds, and real assets.

Learning Objective: To introduce students to asset allocation anti fund choice from an LP's perspective.

Suggested Citation

Lerner, Josh and Leamon, Ann, Yale University Investments Office: February 2011 (October 18, 2011). Harvard Business School Entrepreneurial Management Case No. 812-062, Available at SSRN: https://ssrn.com/abstract=1997389

Josh Lerner (Contact Author)

Harvard Business School - Finance Unit ( email )

Boston, MA 02163
United States
617-495-6065 (Phone)
617-496-7357 (Fax)

HOME PAGE: http://www.people.hbs.edu/jlerner/

Harvard University - Entrepreneurial Management Unit

Cambridge, MA 02163
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Harvard University - Private Capital Research Institute ( email )

114 Western Ave
Allston, MA 02134
United States

Ann Leamon

Harvard Business School - Finance Unit ( email )

Boston, MA 02163
United States
203-918-4492 (Phone)
781-237-6050 (Fax)

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