university endowments

“Well, a successful search, you get all those other constituencies, you get all their input up front, so they feel included. And then you have a really tight search committee of three, maybe four people, and they tightly control the process.”

“What you tend to find, and I did a lot of this as part of my due diligence, is when you have a lack of connectivity there, you typically have turnover. Because there's not a true understanding of what's going on at the endowment level, and oftentimes it's not …”

“An advantage a foundation has over an educational institution is the fact that no one feels like they own the capital that we have. Andrew's been dead a 108 years, and so he didn't leave anything to his heirs, and so there's no one who feels an ownership of th…”

“Because at this point, there aren't many endowments that can do that. I'm sure universities can, but everybody else, it's difficult to get those analytics, even working with a lot of great groups like we do.”

“We actually make payouts and they're more uncertain than what endowments have to make. So we tend to actually have to have a higher liquidity threshold in certain ways than an endowment would.”

“So you have this massive denominator effect that can occur in the foundation portfolio, which is why you see a lot of foundations holding 10, 15% less in private assets than a lot of university endowments.”

“They care about their personal brands. They've been under fire. A lot of the university endowments have had to face really treacherous media and attacks.”