The Ledger
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Siegel: Ford Foundation outperformed mostly via high equity allocation, not manager selection
“I think we did over the very long run, but most of that was by having more equities than the average foundation in a period when equities went up tremendously.”
Many major foundations remain below their 2007 peak values due to illiquidity
“That fight for cash Left some of them still permanently impaired. Some of those foundations still have not gotten back to their 2007 high watermark.”
Ford Foundation under Linda Strump held no hedge funds, capped PE
“Linda at the time didn't believe in hedge funds. The private equity portfolio was 10%. That was it.”