DURHAM, N.C. — The endowment at Duke University surged 58 percent to $2.66 billion in the fiscal year that ended June 30, The News & Observer in Raleigh reported Oct. 6.
Last year, the highest growth rate for a university endowment was 29 percent, the newspaper said.
The larger the endowment, the more room universities have to invest in private equity, including high-risk, high-return venture capital and leveraged buyouts, the newspaper said.
Duke began making such investments on a significant basis in the late 1980s, Thruston Morton III, the president of Duke Management Co., told The News & Observer.
“We’re now harvesting the rewards of that,” he said.
Private equity, the largest part of Duke’s portfolio, posted a return of 214.5 percent.
For full story, go to The News & Observer.