Tuition-Free School’s Endowment Misses Private Equity Gains
- Liberal arts school in Kentucky gained 6.7% in fiscal 2018
- Fund had 5% in private equity, much less than other schools
The Draper Building on campus at Berea College during finals week in Berea.
Photographer: Pablo Alcala/Lexington Herald-Leader via AP PhotoThis article is for subscribers only.
Private equity investments are helping boost returns for some of the richest college endowments. Berea College missed out.
The private school in Kentucky has about 5 percent of its endowment assets in private equity. The fund posted an investment gain of 6.7 percent in the 12 months through June 30, a period when many peers with at least $1 billion are reporting double-digit performance.