Yale University Investments Office: February 2011
Posted: 2 Feb 2012
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.
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