Andy Golden, president of the Princeton University Investment Company (Princo), found his fountain of youth in a bottle of beer – when serving it rather than consuming its contents. The 64-year-old looked particularly relaxed, joyful, and youthful when he recently fulfilled drink orders as the guest bartender for a Housing Initiatives of Princeton (HIP) fundraiser at the Ivy Inn on Nassau Street.
Jacky Shen suspects he was the oldest intern Simon Fraser University’s treasury department ever had.
It was 2007, he was in his early 40s, had just arrived in Canada with his family and was studying for a master’s degree in the university’s wealth management program. As an intern, Shen — now the university’s treasurer and director of investment — joined a department responsible for investing several endowment funds, trusts and pension plans that now have net assets of $1.1 billion.
It is startling that participation in the NACUBO survey has steadily declined since FY 2017. Why is the number of participants decreasing every year? Why is the decrease closely correlated with endowment size? What does that correlation reveal about wealth stratification in higher education?
A provincial study suggests the B.C. government wants out of responsibility for the University of B.C. Endowment Lands, possibly opening the door for the community to join the City of Vancouver or become a new municipality.
The White House is planning as soon as this week to recommend tougher rules for midsize banks, according to people familiar with the matter, after the collapse of two lenders earlier this month sent tremors through the banking system.
The question of how equitable the engagement of higher education institutions with private equity firms and other investment management groups is a difficult one to answer. The reason for this is that there is an incredible lack of transparency in identifying what money managers many higher education institutions are using to steward their endowments.