Yale Has Almost $1 Billion in Cash Waiting to Be Invested

Yale University is sitting on almost $1 billion of cash in its endowment as the school seeks out new investments.

Yale, one of the world’s wealthiest universities, was holding 3.5 percent of its $23.9 billion endowment in cash as of June 30, up from 1.6 percent the previous year, the school said in an investment report. The increase represents a reversal for Yale -- going into the global credit crisis the allocation reached a low of -3.9 percent in 2008, meaning it was borrowing money to boost returns.