Higher-education endowments allocate, on average, 23% of their...

Higher-education endowments allocate, on average, 23% of their investments to alternative asset classes, according to a survey by The Commonfund Institute. The study also found 60% of the 563 respondents — endowments with total assets of $190 billion — invested in alternative asset classes. John Griswold, executive director, said he was "surprised” by the high level of exposure to alternatives. The full Commonfund Benchmarks Study is due for release in June; data tables will be available online to Commonfund clients in April.