Princeton portfolio nets 24.7 percent return

The Princeton University endowment returned 24.7 percent for the fiscal year 2006-2007, increasing its assets from $13 billion to $15.8 billion. The US endowment allocates 15 percent of its portfolio to private equity funds.

The Princeton University Endowment achieved a 24.7 percent return for the 2006-2007 fiscal year, up from 19.5 percent the previous year, according to the university’s newspaper, The Daily Princetonian.

The return is the third highest among US university endowments last year, behind Yale University and the University of Virginia, whose portfolios achieved returns of 28 percent and 25 percent, respectively.


Citing an interview with Princeton Investment Management Company chief investment officer Andrew Golden, The Princetonian said the returns brought the total size of Princeton’s endowment to $15.8 billion (€11.1 billion), up from $13 billion. Princeton’s endowment is currently the fifth largest US university endowment, behind Harvard, Yale, Stanford and the University of Texas, the report said.

PRINCO allocates 15 percent of its portfolio to private equity, but did not release data for individual asset classes’ returns last fiscal year.

PRINCO’s most recent fund commitments include $300 million to Sequoia Capital India III in 2007 and $1 billion to Asia-focussed SAIF Partners Fund III in 2006.