Harvard’s Senior Investment Staff Continues to Churn as Princeton’s Endowment Earns at Twice Harvard’s Rate


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October 5, 2015; Associated Press (via ABC News)

Princeton University’s endowment grew by 12.7 percent in the past fiscal year, a rate twice that of Harvard at 5.8% and more marginally higher than Yale which saw an 11.7 percent return. The resulting gain of $1,7 billion brings Princeton’s endowment to $22.7 billion. That’s $1.7 billion more than the year before.

Meanwhile, Harvard continued to cut ties with its senior investment staff for big cost savings, parting ways now with Marco Barrozo, a fixed-income manager, and Satu Parikh, interim head of natural resources investments, both leaving Harvard Management Co. the Friday before last. NPQ wrote earlier about the fact that the combined compensation of two previously released members of the investment staff amounted to $18 million. Barrozo’s separation brings the cost savings to $23 million, which means he was making a pittance next to the other two. Maybe that was affecting his performance?—Ruth McCambridge

  • That amount of money in the coffers is vulgar. A small percentage of that cold be donated to all the disadvantaged kids across the country struggling with crippling student debt that they won’t pay off until their retirement. Something is wrong with the income gap and access to education in this country.