How Harvard and Other Colleges Manage Their Endowments

Hedge funds with a side hustle in sports, research, and memorial garden construction? As of fiscal year 2023, the market value of just the top twenty endowment funds of colleges and universities was $424 billion; recovering from the significant losses of 2022. This is roughly the same domestic product of Denmark. Blackrock — the world’s largest asset manager — has market capitalization of $103 billion.