The E&F Advocate: Endowment Turbulence – A Crisis at the Crosswinds of Politics, Policy, and Portfolio Strategy

photo credit: ideogram.ai Back in calmer times, larger endowments operated with seeming invisibility—quietly compounding capital over decades, shielded from public glare. Fast forward to today, these capital pools sit squarely in the eye of a brewing political and financial storm. Harvard, Yale, Princeton, and Columbia—once synonymous with strategic patience and long-termism—are now recalibrating rapidly. The…

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The E&F Advocate: Five Pillars of Endowment Governance to Support Greater Liquidity, Transparency and Returns

Photo credit: Dreamstime The “Yale Model” of endowment investment strategy created by David Swenson, successful for decades, may be nearing retirement. What was developed during a time of falling interest rates, less asset class ubiquity, and diminished premiums for exotics, may be a far less tenable model in 2025. Models like Yale’s with their reliance…

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