Yale Endowment Drops 25%
December 17, 2008 | Read Time: 1 minute
Yale University estimates that its endowment has dropped by 25 percent since June 30, losses that the institution says will result in budget cuts, according to The Wall Street Journal.
The university, which holds the second-largest endowment in higher education (after Harvard), has in recent years been heavily invested in hedge funds and other untraditional avenues. It reports that its endowment is currently about $17-billion, down from $22.9-billion at the end of June. Yale’s president, Richard C. Levin, said the New Haven, Conn., university would respond to the losses by slowing campus expansion and salary growth but would not trim financial aid.
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