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March 08, 2023 | Tom Ballard

New report details how universities invest donor dollars

The largest allocation from endowments goes to a mix of private equity and venture capital.

Ever wonder where universities are most likely to invest their endowment dollars that are provided by donors? Well, a new study from the National Association of College and University Business Officers and TIAA has the answer.

According to the 2022 NACUBO-TIAA Study of Endowments®, 30 percent is invested in a mix of private equity and venture capital, 28 percent in public equities (U.S., non-U.S. and global), 17 percent in marketable alternatives, 11 percent in fixed income, 12 percent in real assets, and just under three percent in other assets.

The latest report also found that more than 26 percent of universities incorporate responsible investing strategies within their portfolios, up from just 19 percent in 2021, and more than 86 percent of endowments that responded to this year’s question about investment policies include a commitment to environmental, social, and governance (ESG) principles in their policies, versus just over 80 percent last year.


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