Harvard, Yale Endowments Decline 30% on Private-Equity Losses

Harvard University and Yale University, the wealthiest U.S. schools, got about 30 percent poorer in the past year as their endowments lost more money on investments than less-affluent schools.

Harvard’s fund declined to $26 billion in the year ended June 30, led by a 27.3 percent loss on investments and $1.7 billion in distributions, the Cambridge, Massachusetts, university said yesterday in a report. Yale’s endowment fell to about $16 billion, prompting the New Haven, Connecticut, school to cut $150 million annually in spending through fiscal 2014.

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- Posted: 2009-09-11 10:41:14

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