University of Pennsylvania's endowment returned 7.4% for the fiscal year ended June 30, said Anthony Sorrentino, executive director, office of the executive vice president for the Philadelphia-based school.
Endowment assets totaled $10.1 billion as of June 30, up 5% from the year before.
Strong investment performance in private equity and real estate drove the growth in Penn's endowment. The university does not break out returns by individual asset class, nor does it disclose how much the portfolio allocates to each asset class.
For the three years ended June 30, the endowment returned an annualized 13%, and for 10 years, 7.9%.
The endowment's growth of $537 million reflects the impact of investment gains, spending distributions, new gifts and other net transfers into the endowment.