Stop Universities From Hoarding Money

From the New York Times:

 

“Who do you think received more cash from Yale’s endowment last year: Yale students, or the private equity fund managers hired to invest the university’s money?

 

It’s not even close.

 

Last year, Yale paid about $480 million to private equity fund managers as compensation — about $137 million in annual management fees, and another $343 million in performance fees, also known as carried interest — to manage about $8 billion, one-third of Yale’s endowment.”

 

USC’s endowment currently sits at $4.6 billion. Who do you think got more cash from the endowment last year: USC students or Wall Street equity managers?

 

Read the full New York Times story here.

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