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Phi Beta Cons

The Right take on higher education.

Re: Ivy League “Irrational Exuberance”



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Regarding Candace’s item about Ivy League endowments that have come a cropper, Bloomberg says that these tax-exempt hedge funds, along with those of other rich universities, are desperate to unload their illiquid assets, and together they’re big enough to cause serious problems for an already battered economy:

A push by the richest U.S. universities to unload their stakes in private-equity funds is flooding the market, driving down prices for the world’s best- known buyout firms.

Investors led by Harvard University, which manages the largest U.S. endowment at $36.9 billion, may increase so-called secondary sales of private-equity funds to more than $100 billion during the next year, overwhelming available pools of capital.



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