Northwestern CIO Building Cash Reserves, Trimming Private Equity

Northwestern University’s investment chief wants to increase cash reserves while scaling back private equity in the school’s $14.3 billion endowment as colleges across the country brace for market turbulence.

The cash allocation is set to rise to as much as 7% from no more than 5%, said Chief Investment Officer Amy Falls. Private equity holdings would be trimmed “at the margin,” she said, without quantifying the potential reduction.