Missing billion: how UVA's investment strategy worked... until it didn't
The University of Virginia has long been distinguished as a "public Ivy" comparable to pricey private colleges of the Northeast. Now, in this era of financial meltdown, UVA is being lumped with the Ivy League in a less flattering way: for using an aggressive investment strategy called the "Yale model" that veers away from traditional investments like bonds into the more profitable– and riskier– world of private equity and hedge funds.
And, unfortunately, nearly a billion dollars just disappeared.
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Full Stories List for November 20th, 2008 issue #0747
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